Rheinmetall founds JV to make and repair tanks in Ukraine - Handelsblatt

Rheinmetall has founded a joint venture with Ukrainian state-owned conglomerate Ukroboronprom to build and repair tanks in Ukraine, the Handelsblatt daily reported Friday, citing the German arms maker's chief executive. "The contracts have been signed," Chief Executive Armin Papperger told Handelsblatt, adding that the cooperation would cover the maintenance and repair of armoured vehicles in Ukraine, while the construction of tanks would be prepared in parallel.

Rheinmetall will hold a majority stake of 51% in the new company and will provide the management, added Handelsblatt. (Writing by Miranda Murray; editing by Matthias Williams)