Edition:
United Kingdom

Rheinmetall To Create A Uk Based Joint Venture With BAE Systems


Monday, 21 Jan 2019 

Jan 21 (Reuters) - Rheinmetall Ag ::RHEINMETALL AND BAE SYSTEMS TO CREATE A UK BASED LAND SYSTEMS JOINT VENTURE.RHEINMETALL AND BAE SYSTEMS TODAY ANNOUNCED THAT THEY HAVE SIGNED AN AGREEMENT TO CREATE A JOINT UK BASED MILITARY VEHICLE DESIGN, MANUFACTURING AND SUPPORT BUSINESS.NEW JOINT VENTURE WILL BE HEADQUARTERED AT BAE SYSTEMS’ FACILITY IN TELFORD, ENGLAND AND WILL SUSTAIN OVER 400 JOBS IN THE UK, AS WELL AS PRESERVE KEY TECHNOLOGY AND ENGINEERING SKILLS.RHEINMETALL WILL PURCHASE A 55 PERCENT STAKE IN THE EXISTING BAE SYSTEMS UK BASED COMBAT VEHICLES BUSINESS, WITH BAE SYSTEMS RETAINING 45 PERCENT.JV TO BE COMPLETED IN THE FIRST HALF OF 2019..