New Company Will Sustain 450+ Jobs
The UK Competition and Markets Authority officially approved the proposed joint venture between Rheinmetall and BAE Systems Military Vehicles on 13 June, according to an announcement made by the companies.
The new company, to be known as Rheinmetall BAE Systems Land (RBSL), will be 55% owned by the Düsseldorf-based defence and security company and is intended to play a major role in modernisation and procurement programmes such as the British Army’s Mechanised Infantry Vehicle (MIV) and the forthcoming upgrade of the CHALLENGER 2 main battle tank fleet.
The two parent companies indicate they will make further announcements regarding the joint venture in the coming weeks. Once fully established, the company is expected to sustain “at least” 450 jobs.