Rheinmetall Buys Majority Stake in Croatian Military Vehicles Manufacturer DOK-ING

By Cristina Gallardo

Rheinmetall said it bought a majority stake in Croatian unmanned military vehicles manufacturer DOK-ING with the aim of expanding its drone portfolio.

The German defense group said Wednesday that it had acquired a 51% stake in DOK-ING, while its founder Vjekoslav Majetic will become the only other owner of the company, holding the remaining 49% stake.

The transaction will help Rheinmetall boost its portfolio of uncrewed and autonomous systems for military applications, and capitalize on DOK-ING's expertise on uncrewed solutions for mine clearance and operations in hazardous environments, the German company said.

Founded in 1991, DOK-ING will continue to be headquartered in Zagreb after this transaction, and preserve its management team, Rheinmetall said.

The combination of Rheinmetall's expertise in tactical vehicles and DOK-ING's capabilities in uncrewed systems will create a strong market position for Rheinmetall with considerable potential for the future, according to Bjorn Bernhard, chief of Rheinmetall's Vehicle Systems Europe division.

The move will also allow Rheinmetall to establish a foothold in Croatia, he said, describing the Balkan country as a "highly interesting customer."

Financial details for the transaction weren't disclosed.

Write to Cristina Gallardo at [e-mail]

(END) Dow Jones Newswires

03-04-26 1016ET