Rheinmetall (Redirected from Rheinmetall Denel Munition)

Rheinmetall AG
Company typePublic (Aktiengesellschaft)
ISIN
IndustryDefence
Founded13 April 1889; 134 years ago (1889-04-13)
FounderLorenz Zuckermandel
Headquarters,
Germany
Key people
ProductsAutomotive parts, military vehicles, autocannons, ATGMs, anti-aircraft defence systems, artillery, mortars, tank guns, munitions, ammunition, fuze systems, electronics
RevenueIncrease €6.410 billion (2022)
Increase €754 million (2022)
Steady €535 million (2022)
Total assetsIncrease €8.089 billion (end 2022)
Total equityIncrease €3.083 billion (end 2022)
Number of employees
Increase 25,486 (end 2022)
Subsidiaries
Websitewww.rheinmetall.com Edit this at Wikidata

Rheinmetall AG is a German automotive and arms manufacturer, headquartered in Düsseldorf, Germany. The Group was promoted to the DAX, Germany's leading share index, on March 20, 2023. It is the fifth largest arms manufacturer in Europe, and produces a variety of armored fighting vehicles, armored personnel carriers, in both wheeled and tracked versions.

History

The Hörder Verein [de] established the Rheinische Metallwaaren- und Maschinenfabrik Aktiengesellschaft in 1889. Banker and investor Lorenz Zuckermandel (1847–1928) was one of the founders and the first chairman of the supervisory board. The company manufactured steel products, including armaments. During the post-World War I disarmament of Germany, Rheinmetall diversified, but by the 1930s armament manufacture resumed. In 1933, it acquired A. Borsig GmbH, which manufactured locomotives.

In 1999, Rheinmetall purchased the Swiss firm Oerlikon Contraves, which was renamed to Rheinmetall Air Defence in 2009. Rheinmetall purchased the Swiss firm Oerlikon Contraves Pyrotec, which was renamed to RWM Schweiz AG. In 2009, Rheinmetall purchased RF Engines on the Isle of Wight.

It was announced in December 2023 that the company planned to build a facility within Ukraine to produce the Lynx Infantry Fighting Vehicle and the TPz Fuchs Armored Personnel Carrier. The company plans to have the first units come off the production line sometime within 2024.

Sales

In fiscal year 2022 (2021), the company generated sales of €6.410 billion (€5.658 billion) with a total of 25,486 (23,945) employees (FTE) and reported EBIT of €731 million (€608 million). The 2020 financial year (2019) brought total sales of €5.405 (6.255) billion with 23,268 (23,780) employees (FTE) worldwide. In 2022, Rheinmetall was the largest defence company in Germany and the fifth largest in Europe. The company has been listed in the German DAX share index since 20 March 2023.

Divisions

With its Vehicle Systems divisions (Europe and International), Rheinmetall is primarily active in the field of wheeled and tracked military vehicles. The Weapon and Ammunition division is active in weapon systems and ammunition. The Electronic Solutions division produces solutions for the digitalisation of armed forces, infantry equipment, air defence and simulation. The Sensors and Actuators division provides solutions for industrial applications and e-mobility as well as components and control systems for reducing emissions. The Materials and Trade division supplies plain bearings and structural components and operates the global aftermarket business.

Corruption charges

Rheinmetall Air Defence (RAD), a division of Rheinmetall, is one of six companies that were blacklisted by India's Ministry of Defence in March 2012 for their involvement in a bribery scandal. The companies are accused of bribing the Director General of Ordnance Factories Board (OFB), Sudipta Ghosh. RAD and the other firms have been barred from any dealings with the OFB and all other Indian defence companies, as well as being blacklisted from participating in any Indian defence contract, for a period of 10 years. RAD has claimed that the charges against it are without merit.

Rheinmetall Air Defence was implicated in a corruption case in India along with arms dealer Abhishek Verma and his wife Anca Verma lodged by anti-corruption agency of India, the CBI in 2012 for bribing defence officials for securing multi billion dollar weapons contracts of the Indian military establishment. RAD Chairman Bodo Garbe and General Manager Gerhard Hoy were issued summons of the Indian courts. Subsequently a red-corner notice was issued for their detention through Interpol. The case at present is under trial in Indian courts.


This page was last updated at 2024-03-16 17:46 UTC. Update now. View original page.

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