Italy’s Leonardo and Germany’s Rheinmetall entered a joint venture for the development and production of combat vehicles, targeting potential orders of up to $54.55 billion.

Italy's Leonardo and Germany's Rheinmetall have finalised a joint venture for the development and manufacturing of military combat vehicles, in what is seen as the first step in the consolidation of the European sector.

Italy’s aerospace and defense group Leonardo and Germany’s Rheinmetall (OTCPK:RNMBY) (OTCPK:RNMBF) agreed to set up a joint venture to make combat vehicles, with the possibility of accepting as much as 50 billion euros ($54.

I n a massive shake-up of the defense industry, Italian and German defense titans Leonardo and Rheinmetall have joined forces to form a game-changing joint venture. Announced on O

German weapons manufacturer Rheinmetall and Italian defence contractor Leonardo are jointly launching a new company to build battle tanks, initially for the Italian military, the firms announced on Tuesday.