Northrop Grumman strikes deal to make ammunition in Lithuania [Seeking Alpha]
RHEINMETALL AG UNSP/ADR (RNMBY)
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The U.S. defense contractor on Monday signed a memorandum of understanding with Lithuania's government to make 30-millimeter shells at an existing state-owned facility. "We hope that the cooperation with our American allies will strengthen the country's security and preparedness, while also benefiting the wider region, including Ukraine," Lithuanian Finance Minister Gintare Skaiste said in a statement. Steve O'Bryan, corporate vice president and global business development officer at Northrop ( NOC ) said the agreement is another sign of its commitment to support “U.S. and allied countries through industry partnerships across the globe". Lithuanian Defense Minister Laurynas Kasciunas said the production line is expected to start running within a year. The ammo would be used by infantry vehicles. The agreement comes after Germany's Rheinmetall ( OTCPK:RNMBF OTCPK:RNMBY ) this year signed a deal to building an artillery plant in Lithuania, which is a member of the North Atlanti
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