Rheinmetall to Create Missiles Joint Venture With Switzerland's Destinus

By Cristina Gallardo

German defense group Rheinmetall said it would form a joint venture with Swiss aerospace company Destinus for the production of missiles.

The joint venture, which should be established this year, will focus on advanced cruise missiles and ballistic rocket artillery, Rheinmetall said.

The German company will hold a 51% stake in the venture, while Destinus will hold the remaining 49%, it said.

Write to Cristina Gallardo at [e-mail]

(END) Dow Jones Newswires

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