"Rheinmetall" (Rheinmetall), Germany's largest arms company, plans to continue expanding its workforce as it continues to receive large military orders from Germany and other countries looking to rebuild their armed forces, DPA reported, quoted by BTA.
"Rheinmetall" currently employs about 32,000 people. However, CEO Armin Paperger said today that he plans to increase the number of workers to more than 40,000 in the next two years.
"Rheinmetall"'s business is booming, and orders are more than ever. Russia's full-scale invasion of Ukraine, which began in February 2022, has alarmed European countries and triggered a wave of military spending, DPA recalls.
The return of US President Donald Trump to the White House has prompted European NATO countries to question whether the US remains a reliable ally and to consider dramatic new investments in their own security.
Today, "Rheinmetall" reported record profits from 2024 and forecast continued strong growth next year, as armies around the world seek the infantry fighting vehicles, light tanks, artillery, air defense systems and ammunition that the Düsseldorf-based company produces.
Sales rose to around 9.8 billion. euros last year, which is 36% more than in 2023, announced by "Rheinmetall".
Due to the new conditions, Paperger said that the company wants to try to convert individual plants that have previously worked for the automotive industry and produce defense products in these plants".
In addition, the plants in the German cities of Neuss and Berlin will become "hybrid plants", which will produce products for both civilian and military customers, said the head of "Rheinmetall".