MILAN (awp/afp) – The Italian aeronautics and defense giant Leonardo will finalize its joint venture project with the German arms group Rheinmetall on Tuesday, its CEO Roberto Cingolani announced on Monday.
“Tomorrow you will see, yes,” said Mr. Cingolani, questioned by journalists about the chances of seeing this project succeed. He was speaking on the sidelines of the International Astronautical Congress which opened Monday in Milan.
The two groups announced in July their intention to join forces with a view to supplying a new battle tank to the Italian army.
Leonardo and Rheinmetall intend to create a 50/50 joint venture based in Italy, which aims to develop a new main battle tank (MBT) and a new Lynx platform for the Armored Infantry Combat System (AICS) intended for the Italian army, they then specified.
According to the economic newspaper Il Sole 24 Ore, the total value of these two programs can reach “more than 20 billion euros over ten years”.
Details of the agreement are to be revealed on Tuesday during a joint press conference of the two groups planned in Rome.
After announcing in June the breakdown of discussions with the Franco-German arms group KNDS on a strategic collaboration, Leonardo has found a new partner with a view to being able to equip the Italian army.
Leonardo and KNDS had planned at the time to work together on the planned supply by Rome of 133 Leopard 2A8 tanks for the Italian Army.
The Leopard tank is produced by KMW, the German branch of KNDS, and Rheinmetall. But Rheinmetall is now working on a prototype Panther KF51 battle tank, which is expected to be retained by the Italian army.
Secondly, Leonardo and Rheinmetall are also targeting European markets for their two programs. “There are interested customers,” Armin Papperger, CEO of Rheinmetall, assured in August.
afp/rp
