Business news from Ukraine

Business news from Ukraine

Rheinmetall plans to launch production of armored vehicles in Ukraine

German arms maker Rheinmetall AG wants to build its first armored vehicles in Ukraine next year, the concern’s chief executive officer Armin Papperger said, Reuters reports.

According to Papperger, he expects an agreement with Ukraine to build Fuchs armored transport vehicles, named after the German word for fox, and Lynx infantry fighting vehicles to be signed by early next year.

“After signing the contract, we want to finish the first Fuchs within six to seven months, and the first Lynx within 12 to 13 months,” he said.

It is noted that in October, Ukraine announced the creation of a joint defense venture with Rheinmetall AG to help in the local production of some key types of equipment, as well as to maintain and repair Western weapons sent to Kyiv against a full-scale Russian invasion.

According to Reuters, Ukrainian officials hope that cooperation with Western arms manufacturers will help revive the domestic arms industry, which suffered from inefficiency and lack of transparency for years before Russia’s invasion.

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Canada to provide Ukraine with CAD 650 mln for armored vehicles and special medical evacuation vehicles

Canada will provide Ukraine with 650 million Canadian dollars as part of a long-term assistance program for armored vehicles and special medical evacuation vehicles, Prime Minister Justin Trudeau said.

“I have made it clear that our government will help you as long as you need it… We will provide long-term assistance to Ukraine. We are talking about $650 million over three years. This is for armored vehicles and also for special sanitary evacuation vehicles that will be built in the province of Ontario,” he said in a speech to the Canadian Parliament on Friday.

Also, according to him, Canada will continue to provide economic assistance to Ukraine over the next year “to make Ukraine a powerful, dynamic and prosperous country.”

In addition, the prime minister said, Canada will send instructors for F-16s so that Ukraine can make the most of these aircraft. “But our greatest belief is that you will not need this military and financial assistance for a very long time and that peace will return to your country very soon,” he said.

At the same time, he emphasized that “there can be no wrong peace based on compromises with the aggressor.”

“In order to have a lasting peace, we must stand up to Putin. A lasting peace must clearly establish that borders must be respected, regardless of the size of the neighboring army. This peace must restore the right of Ukrainians to determine their future,” Trudeau said.

“What Putin has done is a break with civilization. It is a violation of our common humanity. It is an attempt to destroy the rule-based order that protects our freedom. It is a step toward weakening democracy and establishing autocracy. Putin rules through deception, violence and repression,” the Prime Minister said.

The Prime Minister of Canada also noted that Canada adheres to the principles of the Ukrainian Formula for Peace. “We believe that the world must respect the UN Charter, be based on international law and preserve the territorial integrity of Ukraine,” he concluded.

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Rheinmetall intends to open production of Fuchs armored vehicles in Ukraine

Germany’s largest manufacturer of military equipment, Rheinmetall, intends to open production of armored vehicles in Ukraine, in particular Fuchs armored personnel carriers, Rheinmetall CEO Armin Papperger said in an interview with Bild.
“We will start with the maintenance and repair of emergency vehicles and want to produce armored vehicles such as Fuchs armored transport vehicles as soon as possible,” Papperger said.
According to him, Ukraine is also interested in combat tanks of modern modifications.
“Ukraine is also interested in a modern Panther battle tank and Lynx infantry fighting vehicle. However, the first step is to provide for the country’s urgent needs in its defensive struggle,” Papperger noted.

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