The Dusseldorf-based defense contractor Rheinmetall intends to expand its air defense systems business through a partnership in South Korea. The group announced on Monday that it has entered into a strategic partnership with LIG Defense & Aerospace (LIG D&A). Together, the partners aim to provide air defense systems for European and NATO territories. This collaboration includes the further development and marketing of medium- and long-range missiles. The short-term objective of the cooperation is the establishment of a joint venture, in which Rheinmetall will hold a majority stake.
(Report by Tom Kaeckenhoff. Edited by Olaf Brenner. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
Rheinmetall AG specializes in the design, manufacture and marketing of equipment, components and solutions for the military and civilian industries. Net sales (including intragroup and not including sold divisions) break down by family of products as follows:
- vehicle systems (49%): multi-purpose wheeled and tracked vehicles (tactical military vehicles, support vehicles, logistics vehicles and special vehicles);
- weapon and ammunition systems (32%): automatic cannons for land, air and sea vehicles, smooth-bore weapons, artillery systems, smart projectiles, high-energy lasers, etc.;
- electronic solutions (19%): sensors and networking systems, cyberspace protection solutions, air defense systems, radar systems, technical documentation solutions, integrated electronic systems, drones and automated ground robots, training and simulation solutions.
Net sales are distributed geographically as follows: Germany (38%), Europe (42.9%), Americas (7.9%), Asia and the Middle East (5.1%) and other (6.1%).
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