But Armin Papperger, the executive director of the German arms manufacturer Rheinmetallall, was not worried. “It’s good for work,” Papperger said, whose company achieved huge growth due to the rise in European military spending, the Financial Times reports.
Speaking of the Financial Times on the margins of the Conference, 62-year-old Bavarac said that Europe has no choice but dramatically increase their defense skills – and that “this company can achieve this.” A little company has profited since the war in Ukraine and growing tensions in the US and Europe relations as Rheinmetall.
The company is expected to report today on last year’s sale of approximately 10 billion euros, almost twice as much as 5.7 billion euros earned in 2021, before Russian invasion. The company aim to 40 billion euros by 2030.
Rheinmetall’s shares increased more than 10 times from the beginning of the war and almost 140% after Donald Trump in November elections. “In the last 12 months, we got more contracts than in the last 15 years,” Papperger said.
Alcatno demand for weapons comes after a policy change in Germany. The new Chancellor Friedrich Merz announces the abolition of borrowing restrictions on how to enable “almost unlimited” defense consumption, while Ursula von der Leyen announced a plan to mobilize 800 billion euros for the defense sector.
However, the growing public spending on military equipment causes discomfort in the part of Europe, where governments have invested in education and health for years instead of the army. But experts warn that Europe must urgently increase production if it wants to support Ukraine and arm its own forces facing the US withdrawal.
(Vijesti.ba)
