Rheinmetall CEO visits VW plant as defence firms look to expand
BERLIN, March 28 (Reuters) - Rheinmetall (RHMG.DE), opens new tab CEO Armin Papperger visited Volkswagen's Osnabrueck plant on Friday as part of a delegation of Europe's top ammunition maker, labour representatives said, in the latest sign of closer cooperation between the defence and auto sectors.
Papperger earlier this month said Volkswagen's factory in Osnabrueck, which may be repurposed or sold as part of the carmaker's revamp, would be"very suitable" for defence production.
Papperger's visit comes as German defence firms are seeking ways to expand amid European efforts to ramp up military spending, with struggling automotive firms a possible source of staff and production sites.
Sources close to Volkswagen said that the visit was to explore possible further cooperation within an existing joint venture between Rheinmetall and Volkswagen's commercial vehicle brand MAN.
Rheinmetall owns 51% in Rheinmetall MAN Military Vehicles, with the remainder held by MAN Truck & Bus SE, a division of Traton (8TRA.DE), opens new tab, the truck maker majority-owned by Volkswagen.
"As IG Metall, we see numerous opportunities to establish new contract manufacturing for various industries under the Volkswagen umbrella," Stephan Soldanski of the IG Metall labour union in Osnabrueck said.
"It would be short-sighted to focus solely on the defence industry instead of actively promoting alternative economic sectors and forward-looking concepts."
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Daily Mirror
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Scottish Sun
4 hours ago
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Scottish Sun
17 hours ago
- Scottish Sun
Crystal Palace set to learn Europa League fate this week as co-owner looks to buy out John Textor
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) JOSH HARRIS wants to buy out John Textor in the latest tug of war at Crystal Palace. Textor owns around 45 per cent of the club and was planning to make a move on Harris and David Blitzer — who have 18 per cent each — to purchase their shares. 3 JOSH HARRIS wants to buy out John Textor in the latest tug of war at Crystal Palace Credit: Rex 3 Textor now willing to sell up to avoid Palace being booted out of the Europa League Credit: AFP 3 Palace qualified for the Europa League after beating Man City in the FA Cup final But that has failed so far — with Textor now willing to sell up to avoid Palace being booted out of the Europa League due to Uefa's rules on multi-club ownership. The European governing body's regulations mean Textor, majority owner of Lyon, cannot have influence at two clubs in the same competition. But a sale is unlikely to be quick and will not impact the decision of Uefa chiefs. And Harris is looking to pay a smaller sum than his US compatriot wants. READ MORE CRYSTAL PALACE NEWS PALACE PROBLEM Palace closer than ever to being kicked out of Europe as Man Utd trick fails Textor, whose Palace club won entry to the Europa League through winning the FA Cup, does not have a majority stake and only 25 per cent of voting rights. Palace hope that relatively low figure will help their case with Uefa, who are expected to deliver a verdict next week. Lyon are also set to feature in the competition having finished higher than Palace domestically, with a sixth-placed finish in the Ligue 1 last season. Uefa rules prohibit anyone from "simultaneously be involved in any capacity whatsoever in the management, administration, and/or sporting performance of more than one club participating in a Uefa club competition." CASINO SPECIAL - BEST CASINO BONUSES FROM £10 DEPOSITS The prospect of Palace dropping into the Conference League is also nigh-on impossible too. This is because other shareholder David Blizter also has a stake in Danish oufit Brondby, who are set to play in European football's tertiary club competition next season. Abandoned iconic UK stadium left to rot 110 years after hosting FA Cup final getting new lease of life In a desperate bid to see the Eagles fly across Europe next season and comply with Uefa rules, Textor and Blizter offered to put their shares in a blind trust. But Uefa chiefs have REJECTED the offer, leaving Palace's proposed European adventure next season in limbo. Manchester City and Manchester United utilised blind trusts last season as sister clubs Girona and Nice both qualified for the Champions League and Europa League respectively.
