Rheinmetall forms JV for tank production and repair in Ukraine.

German arms maker Rheinmetall has formed a joint venture with Ukrainian state-owned conglomerate Ukroboronprom to build and repair tanks in Ukraine. Rheinmetall will hold a majority stake of 51% in the new company and will provide the management. The cooperation will cover the maintenance and repair of armoured vehicles in Ukraine, while the construction of tanks would be prepared in parallel. The German company expects to sign contracts for two more joint ventures in the coming days, for ammunition and air defence.