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RNMBF - Rheinmetall to increase output of ammo propellants
Rheinmetall AG
2023-06-16 13:02:45 ET
Rheinmetall ( OTCPK:RNMBF ) ( OTCPK:RNMBY ) will increase production of ammunition propellants by 10% amid growing demand after Russia’s invasion of Ukraine.
Germany’s biggest defense contractor by sales plans to expand output of the powder by 500 to 600 metric tons a year at a factory in Aschau, Bavaria.
Armin Papperger, CEO of Rheinmetall, late Thursday said the company began capital expenditures to hit the goal, Reuters reported.