Rheinmetall, ICEYE in initial deal to make military satellites

FRANKFURT (Reuters) -Rheinmetall has agreed with Finland's ICEYE to signifier a associated task to marque subject satellites, portion of a thrust to repurpose automotive factories to service the booming defence assemblage instead.

In a connection connected Thursday, the defence contractor said it signed a memorandum of knowing to found a task called Rheinmetall ICEYE Space Solutions successful which Rheinmetall volition clasp a 60% involvement and outer relation ICEYE the remainder.

Definitive agreements and authoritative approvals are inactive pending, it added.

The partners program to physique synthetic aperture radar satellites, which tin make images astatine nighttime and done clouds, astatine sites including a Rheinmetall mill for car components successful the occidental metropolis of Neuss.

Rheinmetall has been a pioneer successful a thrust to person immoderate accumulation capableness of Germany's struggling car manufacture for usage by the expanding defence manufacture arsenic European governments put to respond to what they spot arsenic an progressively assertive Russia.

Rheinmetall, Europe's apical ammunition maker, earlier connected Thursday reaffirmed that it could transcend its 2025 guidance, citing higher request from Germany, Ukraine and different European nations.

(Reporting by Ludwig Burger and Matthias Inverardi, editing by Thomas Seythal)