German defence group Rheinmetall has agreed to acquire Naval Vessels Luerssen from the Luerssen Group, expanding into naval shipbuilding. The purchase price remains undisclosed, with completion expected early next year pending antitrust approval. Rheinmetall aims to enhance its position as a top defence technology supplier in Germany and Europe.

Rheinmetall, known for tanks and infantry vehicles, plans to meet naval forces’ demand with modern solutions. The company’s interest in Naval Vessels Luerssen was reported last month, as Europe’s largest ammunition producer benefits from increased defence spending post-Russia’s invasion of Ukraine. Sales for Rheinmetall in the second quarter fell short of expectations due to German contract delays.

Naval Vessels Luerssen, a privately owned group with international locations, generated around 1 billion euros in sales in 2024, employing 2,100 people worldwide. Rheinmetall’s strategic acquisition aims to tap into rising procurement budgets and demand for naval capabilities. Europe’s defence landscape continues to evolve amid geopolitical tensions.

Read more at Yahoo Finance: Rheinmetall agrees to buy NVL, military arm of German shipbuilder