German arms giant Rheinmetall aims to lift turnover to €40 billion [Yahoo! Finance]
RHEINMETALL AG UNSP/ADR (RNMBY)
NASDAQ:AMEX Investor Relations:
rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: Yahoo! Finance
"To do that, we need an annual turnover of €40 billion ($44.5 billion)," Papperger told the Handelsblatt business newspaper. The group is currently aiming to exceed €10 billion in turnover this year, an increase of 40%, he said. Papperger expects that Rheinmetall's growth will provide it with better access to political decision-makers and advantages over competitors in the costs of the ammunition and armoured vehicles it produces. The quadrupling of annual sales to €40 billion is a medium-term target, Papperger suggested, with takeovers and mergers one part of the strategy. The company recently acquired the US vehicle specialist Loc Performance and the Spanish ammunition company Expal.
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