Leonardo and Rheinmetall Finalize 50/50 Joint Venture for Combat Tanks, 60% Activities in Italy

Oct 15, 2024, 10:46 AM

Italian defense contractor Leonardo and German firm Rheinmetall have finalized a joint venture to produce combat tanks and armored vehicles in Europe. The partnership, announced on October 15, 2024, will see both companies equally share ownership of the new entity, which will focus primarily on developing vehicles for the Italian army. Approximately 60% of the joint venture's operations will be conducted in Italy, with its legal headquarters located in Rome. This collaboration underscores the growing defense cooperation between Italy and Germany amid increasing military demands in Europe.