Rheinmetall receives order from the EU to increase production of shells
German defense concern Rheinmetall will receive more than 130 million euros from the European Union to increase ammunition production.
What is known
Under the Ammunition Support Act (ASAP), the EU has provided Rheinmetall with more than EUR 130 million in subsidies. This funding is a significant part of the total amount of 500 million euros that the EU has allocated to expand the production of 155-mm artillery shells and powder.
The six subsidiaries of Rheinmetall AG that will receive the financing will be implemented at facilities in Germany, Hungary, Romania and Spain. The relevant grant agreements are scheduled to be signed in May 2024.
Armin Papperger, CEO of the concern, expressed gratitude to the European Union for its trust and support, emphasizing the importance of artillery in modern military conflicts. He emphasized that amid Russia’s full-scale war in Ukraine, the demand for ammunition has increased significantly in many countries.
