Rheinmetall eyes Hungarian digitalisation with JV
Rheinmetall is continuing its efforts to establish a JV in Hungary for armed forces digitalisation, after signing a preliminary agreement with 4iG and HM EI.
The partners aim to ‘participate in the digitalisation of the armed forces in Hungary and selected NATO member states in Central and Eastern Europe by developing digital combat system solutions as well as ground and flight simulation systems for the provision of most modern soldier training’, Rheinmetall announced on 16 May.
The JV is expected to begin operations in H2 2022.
Armin Papperger, CEO of Rheinmetall, said: ‘The joint venture, majority-owned by Rheinmetall, will be an integral part of our future digitalisation strategy for the defence industry… The location of the company also represents our special commitment to Hungary as a business location.’
Rheinmetall is already providing the Hungarian Army with 218 KF41 Lynx tracked IFVs under a contract worth more than €2 billion ($2.4 billion).
Rheinmetall acquired a 25% stake in 4iG under an agreement signed in January 2022.
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