CEO Papperger wants to multiply sales in the coming years – also through further acquisitions.
According to a report in the “Handelsblatt”, the arms company Rheinmetall wants to catch up with the world’s leading companies in the industry by the end of the decade. “To do this, we need an annual turnover of 40 billion euros,” CEO Armin Papperger told the newspaper. The company wants to exceed the ten billion euro threshold for the current year. This is an increase of 40 percent, said the CEO.
According to Handelsblatt, Papperger hopes that greater size will give him better access to political decision-makers and cost advantages in the production of ammunition and armored vehicles. Quadrupling annual sales to 40 billion euros is not a long-term goal for Papperger, but he wants to achieve it in the medium term. Acquisitions and mergers are part of the growth strategy. The group recently acquired Loc (USA) and Expal (Spain).
Source: Stern
