Rheinmetall wins $325 million artillery ammunition order
Ukraine has used hundreds of thousands of shells in operations against Russia. (Photo: Ukraine MoD)
Rheinmetall reported first quarter 2024 consolidated sales of €1.581 billion compared to the same period in 2023 of €1.363 billion and much of this has been driven by demand for artillery ammunition.
Rheinmetall has been awarded a contract for several tens of thousands of artillery shells and several hundred thousand propellant charge modules for an undisclosed NATO country.
The total gross value of the orders booked in Q2 2024 amounts to almost €300 million (US$325 million). The deliveries will take place between 2024 and 2028.
The company has received billions of dollars for ammunition under framework agreements to meet Ukrainian requirements for its war against invading Russian forces and has boosted manufacturing capability.
Artillery, particularly 155mm and 120mm shells, has proven crucial to Ukraine along its 1,000km front line and Germany and Rheinmetall have been vital partners in helping it meet substantial demands and replacing supplies transferred from other countries’ stockpiles.
Rheinmetall completed the purchase of Spanish ammunition-maker Expal Systems in August last year.
The company has used this tie-up to met demands such as a €1.3 billion framework contract with the German Armed Forces in July last year to supply several hundred thousand shells, fuses and propelling charges. Shortly before that the German Army expanded a deal to provide tank ammunition to a value of €4 billion.
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