Rheinmetall to acquire NVL from Lurssen.

Rheinmetall, an automotive and arms manufacturer, agreed to acquire NVL, a military division, from Lurssen, a shipyard. Financial terms were not disclosed. “With the newly agreed acquisition, we are taking a decisive step forward in consolidating the defence industry in Germany and Europe. Combined with Rheinmetall’s expertise, we are creating a vital German powerhouse for state-of-the-art vessels. The combined capabilities of Rheinmetall and NVL will generate mutual growth and thus strengthen our corporation’s position in the naval sphere. At the same time, we are making a substantial contribution to strengthening the naval defence capabilities of Germany and its NATO allies,” Armin Papperger, Rheinmetall CEO.