Leonardo and Rheinmetall establish joint venture
15. October 2024
Leonardo and Rheinmetall have decided to establish a joint venture aiming at forming a new European nucleus for the development and production of military combat vehicles in Europe. The companies had already signed a corresponding Memorandum of Understanding (MoU) in Rome at the beginning of July 2024.
Rheinmetall AG and Leonardo S.p.A. will be equal shareholders (50% each) in the new company Leonardo Rheinmetall Military Vehicles (LRMV), which will have its legal headquarters in Rome and an operational headquarter in La Spezia. The definition of the agreement and the establishment of the company, which will be expected by the first quarter 2025, are subjected to usual regulatory approvals for this sort of operation.
The primary goal of the joint venture is the industrial development and subsequent marketing of the new Italian main battle tank (MBT) and the new Lynx platform for the Armoured Infantry Combat System (AICS) programme as part of the Italian Army’s programme for land systems. The development and production of other vehicles of this family, such as recovery, engineer and bridge-laying vehicles, is also planned. Both partners also expect their joint products to provide extensive sales opportunities in international markets.
More information about the joint venture can be found here.
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