LMT - Lockheed teams with Rheinmetall to make missile systems in Germany

2023-04-21 11:09:47 ET

Lockheed Martin ( NYSE: LMT ) and Rheinmetall ( OTCPK:RNMBF ) ( OTCPK:RNMBY ) said they're working together to provide Germany with a rocket artillery system made in the country.

“The combination of Lockheed Martin’s proven capabilities and extensive know-how with Rheinmetall’s experience in fabrication and production opens unique opportunities for both sides,” Armin Papperger, CEO of Rheinmetall ( OTCPK:RNMBF ) ( OTCPK:RNMBY ), said in a statement.

Lockheed Martin ( LMT ) manufactures a variety of missiles and launchers including the High Mobility Artillery Rocket System (HIMARS) that has been supplied to Ukraine in its efforts to repel Russia's invasion.

“Lockheed Martin ( LMT ) looks forward to collaborating and optimizing our combined resources to meet an immediate need for deterrence,” Paula Hartley, vice president of tactical missiles at the company, said in the announcement. “This is another step in our partnership with Rheinmetall ( OTCPK:RNMBF ) ( OTCPK:RNMBY ) bringing 21st century security solutions to Germany.”

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