Rheinmetall closing in on multi-billion-euro ammunitions contract, CEO tells Reuters

Published on November 6, 2025

German defence giant Rheinmetall is close to finalizing a multi-billion-euro ammunition supply deal, potentially worth tens of billions, according to CEO Armin Papperger. Speaking at the launch of a new ammunition factory in Lithuania, Papperger also revealed talks with the German government over a satellite system and mentioned possible plans for a drone factory in the Baltic states through a joint venture. With Germany set to raise defence spending to 3.5% of GDP by 2029, Rheinmetall anticipates strong domestic demand and significant growth by 2026. Additionally, its joint venture with Italy’s Leonardo is progressing, having secured a major armored vehicle contract worth several hundred million euros, with up to €5 billion in new orders expected within a year.

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