Rheinmetall's Shipyard Win Lands as Skyranger Slips and Factories Swell
Published on 10/29/2026 at 09:50 | Editorial boerse-global.de
Rheinmetall and its partner MSC have won the auction for Romania's Mangalia shipyard, with the two sides set to pay a joint purchase price of around EUR 138 million. The company had flagged the award roughly two weeks ago and expected the deal to close within the following weeks. The site is earmarked for both civil and military shipbuilding work.
The shipyard award sits alongside a broader push on the production side. Rheinmetall Expal Munitions is lifting headcount at its Albacete plant from about 210 to roughly 300 employees, a build-out tied to the new medium-calibre line that started operating there on 16 October. The company puts investment at the Spanish site at around EUR 20 million. Annual capacity at the new facility is put at some three million munitions components, including projectiles and casings.
British Lines and a Two-Week-Old Gun Hall
Capacity has also grown across the Channel. The UK Gun Hall in Telford, opened just over a week ago, is set to manufacture weapon systems — specifically 120-mm and 155-mm systems — and forms part of a British investment programme Rheinmetall values at more than GBP 200 million over the past five years.
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Not every corner of the portfolio is advancing on schedule. German media reported on 23 October that the Skyranger air-defence tank is running late, prompting the Bundeswehr to order 48 GARMR drone-defence systems from Diehl as an interim stopgap. That contract goes to a competitor rather than to Rheinmetall.
Italy Adds to the Order Book
There is more encouraging news from the vehicle side. Media reports put the total order at 51 vehicles, with Rheinmetall supplying the chassis and Leonardo contributing the turret, which carries 30-mm armament. The additional call-off follows reports of further contracts for the Leonardo Rheinmetall Military Vehicles joint venture.
Reuters reported just over a week ago that the JV is set to receive two contracts from the Italian army worth a combined EUR 3.7 billion, covering A2CS combat vehicles and main battle tanks. Rheinmetall did not confirm the award. Leonardo and Rheinmetall each hold half of the joint venture.
November in the Diary
Investors have two dates to work with. Rheinmetall will publish its third-quarter 2026 statement on 5 November, and has scheduled its capital markets day at Blohm+Voss in Hamburg for 25–27 November. Attention at the latter will centre on the company's targets for 2030.
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