Ukroboronprom and Rheinmetall create a joint venture

Publication date: 17.05.2023

The State Concern «UkrOboronProm» and one of the world leaders in the defence industry, the German company Rheinmetall, have signed a strategic partnership agreement. The goal is to strengthen Ukraine's defence industry and its national security by establishing a joint venture.

«Meeting the urgent needs of Ukraine in its struggle for freedom and democracy as soon as possible for freedom and democracy is of crucial importance to us. Given its experience and capabilities, Rheinmetall is well-placed to be a valuable and powerful partner for Ukraine in both the short and long term. In turn, Ukroboronprom, headed by Yurii Husiev, is a very reliable partner for us», emphasised Armin Papperger, CEO of the German company.

According to the agreement, the basis and first step for cooperation is the technical maintenance and repairing of armoured vehicles transferred to Ukraine. Moving forward, the partners are going to jointly manufacture Rheinmetall products in Ukraine as well as jointly develop advanced samples of weapons and military equipment on the basis of the newly established joint venture with the participation of Ukrainian and German experts.

«It is a great honour for me to establish a joint venture between Rheinmetall, one of the world's leading defence manufacturers, and Ukroboronprom, which increased assembly of armament and military equipment despite numerous Russian missile attacks. Working for victory 24/7, Ukroboronprom can do even more. We are grateful to Rheinmetall for its willingness to help us defeat russia», stated Yurii Husiev, General Director of Ukroboronprom.

The joint venture is scheduled to begin operations in mid July 2023.