Overview

• Rheinmetall reaffirmed its agreement to acquire Lürssen’s naval unit NVL, which includes Hamburg’s Blohm+Voss shipyard, with completion still contingent on cartel approval.
• CEO Armin Papperger said he expects a decision by December and indicated a detailed strategy will be presented only after clearance.
• He rejected concerns over layoffs, saying headcount has risen at past sites and that the plan calls for increasing personnel rather than cutting jobs.
• The company intends to insource steel processing, welding and pipeline construction to the shipyards and to route €50–100 million in immediate internal orders to them.
• During a visit to Hamburg, Papperger signed a memorandum of understanding for a munitions plant in Latvia, aligning with plans to grow from about 40,000 to 70,000 employees by 2030 and build 13 new European factories.