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Business/Financial

Rheinmetall To Hold Majority Stake In New U.K. Military Vehicle Venture With BAE Systems

By Matthew Beinart

Tuesday, January 22nd, 2019

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Rheinmetall To Hold Majority Stake In New U.K. Military Vehicle Venture With BAE Systems

Boxer vehicle at BAE System's Telford, England facility. Photo: BAE Systems.

German manufacturer Rheinmetall is set to hold a majority stake in BAE Systems’ U.K. military vehicle business pending approval of a new joint venture, the two companies said Monday. The new joint venture, known as Rheinmetall BAE Systems Land (RBSL), will remain based out of the U.K. company’s Telford, England facility. Rheinmetall will own 55 percent of the group, with BAE Systems holding the remaining 45 percent. “The combined capabilities of our two great companies will offer our customers a…

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