Rheinmetall Strengthens European Defense: Bulgarian Joint Venture Unveiled
Rheinmetall is set to invest over 1 billion euros in Bulgaria for producing gunpowder and 155-mm artillery shells through joint ventures. Boyko Borissov discussed the projects with CEO Armin Papperger. The aim is to boost European defense capabilities amid increased demand following Russia's invasion of Ukraine.
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In a strategic move to bolster Europe's defense infrastructure, Rheinmetall, a leading European defense contractor, has announced plans to invest over 1 billion euros in Bulgaria. This investment will focus on the production of gunpowder and 155-mm artillery shells through two new joint ventures.
Boyko Borissov, leader of Bulgaria's ruling GERB Party, recently met with Rheinmetall CEO Armin Papperger at the company's headquarters to discuss these joint ventures. The initiative, first broached in March, is now progressing towards detailed planning and execution, promising adherence to NATO standards.
Rheinmetall has been actively forging partnerships across Europe, including collaborations with major defense companies like Italy's Leonardo and the US's Lockheed Martin. This expansion is a response to growing defense demands, heightened by the geopolitical tensions following Russia's invasion of Ukraine.
(With inputs from agencies.)
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