Rheinmetall, South Korea's LIG to Form Air-Defense Venture

By Adria Calatayud

Germany's Rheinmetall and South Korea's LIG Defense&Aerospace plan to form a joint venture aimed at supplying air-defense systems to Europe and countries in the North Atlantic Treaty Organization.

The companies said Monday that Rheinmetall would hold the majority shares in the venture, part of a strategic partnership to address immediate and future needs for air-defense systems in Europe and NATO territory.

Under the partnership, the companies will develop and sell in Europe LIG D&A's medium- and long-range air defense missiles in conjunction with Rheinmetall's very short-range air defense systems, they said. Rheinmetall and LIG D&A also agreed to jointly develop new missiles and capabilities to cover the current air-defense gaps, they added.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

06-15-26 0929ET