Armaments: Rheinmetall plans to build warships soon
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|The defense company is known for tanks and artillery shells. Now it's acquiring shipyards for billions. This may seem strange at first glance – but company CEO Papperger has ambitious plans.
Armin Papperger is drawn not only to space, but also to the sea. At least for business purposes. The Lower Bavarian is head of the Düsseldorf-based defense company Rheinmetall , and on Monday night, the DAX-listed company announced its intention to acquire a German naval shipyard : Naval Vessels Lürssen (NVL) from Bremen , a manufacturer of frigates, patrol boats, and minesweepers. Just in May, Rheinmetall announced it would establish a reconnaissance satellite production facility in Neuss near Düsseldorf . Shortly thereafter, Papperger agreed to a partnership with a US provider of military drones.
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