Leonardo, Rheinmetall forge tank-making alliance

(ANSA) - ROME, OCT 15 - Defence giants Leonardo of Italy and Rheinmetall of Germany on Tuesday forged a major Italo-German tank-making alliance.
    The equal-parts joint venture, announced in July, was sealed with a signing ceremony in Rome.
    The JV will have its legal domicile in Rome and operational HQ in La Spezia.
    It is an Italian-German alliance for tanks that came to life as a "primary objective" for mega-orders of over 20 billion in 10 years of the Italian Army to renew the old fleet of Arietes and Dardos, with 280 tanks, partly in combat version and partly in support version, and more than a thousand light tracked vehicles.
    But it also focuses on exports and, above all, looks ahead to the opportunities of the future program for a new European heavy tank 'Main Ground Combat System'.
    Overall, it is a market that has been estimated to be worth over 50 billion.
    The division of work will be 50-50 between Leonardo and Rheinmetall, with 60% of the activities to be carried out in Italy.
    Leonardo Managing Director Roberto Cingolani said: "This is a significant step towards the creation of a European defence system based on shared specialised platforms.
    "Rheinmetall and Leonardo aim to develop cutting-edge technologies capable of competing at an international level".
    Rheinmetall CEO Armin Papperger said: "We are creating a new heavyweight in European tank production.
    "Leonardo and Rheinmetall, two leading European defense technology providers, are joining forces to realize ambitious projects.
    "We are targeting the Italian market first, but we will also address other partner countries that will need to modernize their combat systems in the future. "Rheinmetall has the perfect technologies for Italy's needs." (ANSA).