Latest news for Rheinmetall (OTC:RNMBF) Stock

Rheinmetall is an international group active in various markets with leading technological products and services. The sales focus is on the security technology and mobility segments. Since February 2021, the group structure has been made up of five divisions—vehicle systems, weapon and ammunition, electronic solutions, sensors and actuators, and materials and trade. The vehicle systems, weapon and ammunition, and electronic solutions divisions are among the defense and security industry's leading suppliers of innovative products to German and international defense forces. The sensors and actuators and materials and trade divisions' core area of expertise is the reduction of emissions, pollutants, and fuel consumption.

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	Rheinmetall AG&#39;s (OTC: RNMBF) (OTC: RNMBY) Castings business unit recently won a new order from a prominent truck manufacturer for gearboxes. 


Rheinmetall Bags E-Truck Component Order From Popular Truck Maker

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Rheinmetall Posts Drop In Q3 Profit, Lowers Full-Year Forecast

Rheinmetall AG

Rheinmetall

<ul>
	<li>Rheinmetall AG&#39;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RNMBF#OTC">RNMBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RNMBY#OTC">RNMBY</a>) Castings business unit recently won a new order from a prominent truck manufacturer for gearboxes.&nbsp;</li>
	<li>The order is worth a figure in the lower-two-digit million-euro&nbsp;<a class="editor-rtfLink" href="https://www.rheinmetall.com/en/rheinmetall_ag/press/news/latest_news/index_39296.php" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">range</a>.</li>
	<li>Production will begin in the first quarter of 2026 and will initially run for five years.&nbsp;</li>
	<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/01/30253535/rheinmetall-clinches-quarter-billion-euro-order-for-new-type-of-contactors" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rheinmetall Clinches Quarter Billion Euro Order For New Type Of Contactors</a></li>
	<li>However, Rheinmetall and the truck manufacturer have agreed to a total project lifetime of over 15 years.&nbsp;</li>
	<li>In winning the order, Rheinmetall overcame rival bids from two competitors in the low-pressure casting sector.</li>
	<li>Rheinmetall will supply the gearboxes as fully machined components leading to synergies for the Group since casting will take place at its plant in Neckarsulm and final machining at its Langenhagen facility.&nbsp;</li>
	<li>This solution assures optimum utilization of capacity at both production sites.&nbsp;</li>
	<li>The gearboxes are highly sophisticated casting products specifically designed for use in e-trucks.</li>
	<li>The order gives Rheinmetall a chance to apply and expand its expertise in e-mobility and practically participate in this growth market from the outset.&nbsp;</li>
	<li>In cooperating with a longstanding truck producer, the Group aims to jointly develop and introduce the component Europe-wide, increasing the likelihood of additional orders.</li>
	<li>Price Action:&nbsp;RNMBY shares closed lower by 0.17% at $52.41 on Thursday.</li>
</ul>

Highlights:

<ul>
	<li>Provides vehicle mission systems and cybersecurity</li>
	<li>Allows easy and affordable upgrades through modular open-system design
	<ul>
		<li>Leverages L3Harris multi-domain expertise by bridging airborne-to-ground platforms
		L3Harris Technologies (NYSE:<a class="ticker" href="/stock/LHX#NYSE">LHX</a>) and American Rheinmetall Vehicles have signed a teaming agreement to jointly develop the U.S. Army&#39;s new Optionally Manned Fighting Vehicle (OMFV), which will replace the Bradley Infantry Fighting Vehicle.

		This press release features multimedia. View the full release here:&nbsp;<a href="https://www.businesswire.com/news/home/20210414005460/en/">https://www.businesswire.com/news/home/20210414005460/en/</a>
		<img alt="American Rheinmetall Vehicles, the prime contractor, selected L3Harris to provide vehicle mission systems, cybersecurity and its modular open systems approach (MOSA) for the Lynx.( Image Credit: American Rheinmetall Vehicles)" src="https://mms.businesswire.com/media/20210414005460/en/871444/4/American_Rheinmetall_Vehicles_4509128_RMD_Lynx_v3_NO_seats_%28900x670%29.jpg" />

		American Rheinmetall Vehicles, the prime contractor, selected L3Harris to provide vehicle mission systems, cybersecurity and its modular open systems approach (MOSA) for the Lynx.( Image Credit: American Rheinmetall Vehicles)

		The agreement combines L3Harris&#39; open system design and equipment manufacturing leadership with the maturity and modularity of American Rheinmetall Vehicles&#39; Lynx next-generation fighting vehicle for an OMFV offering that is low-risk and easily upgradable.

		American Rheinmetall Vehicles, the prime contractor, selected L3Harris to provide vehicle mission systems, cybersecurity and its modular open systems approach (MOSA) for the Lynx. L3Harris&#39; MOSA can enable cross-platform and cross-domain commonality of parts and subsystems to allow for easy and affordable upgrades.

		&quot;We have a long history providing similar support to multiple platforms using our MOSA approach for mission systems and electronic warfare,&quot; said James Gear, Vice President, L3Harris Domestic Business Development. &quot;We look forward to working with American Rheinmetall Vehicles to further expand into the ground defense vehicle market.&quot;

		&quot;We are excited to have L3Harris join our growing team to support the U.S. Army&#39;s OMFV program,&quot; said Mathew Warnick, Managing Director for American Rheinmetall Vehicles. &quot;Their experience in open architecture, communications, and cybersecurity bring tremendous capability to the American Rheinmetall Vehicles team as we prepare our digitally engineered OMFV to provide our Soldiers overmatch now and for the future.&quot;

		The design approach is grounded in the reuse of technologies and lessons from the family of L3Harris programs and engagements around the Army&#39;s modular open aviation and ground endeavors.

		About L3Harris Technologies

		L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers&#39; mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately&nbsp;$18 billion&nbsp;in annual revenue and 48,000 employees, with customers in more than 100 countries.&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.l3harris.com%2F&amp;esheet=52411591&amp;newsitemid=20210414005460&amp;lan=en-US&amp;anchor=L3Harris.com&amp;index=1&amp;md5=d4276b977391ba6a217fc1ba7ddcc2c1">L3Harris.com</a>.

		About American Rheinmetall Vehicles

		American Rheinmetall Vehicles, located in Sterling Heights, Michigan, is part of Rheinmetall&#39;s Vehicle Systems Division and brings the group&#39;s unbeatable global product portfolio to the U.S. market. ARV specializes in tracked and wheeled combat vehicle platforms, tactical wheeled vehicles, and associated subsystems. Addressing the critical design needs of today&#39;s customer, ARV delivers vehicles with supporting open system architectures that enable the rapid insertion of technology in the modern era of fast-paced innovation. ARV&#39;s strengths in vehicle design and development, engineering and system integration make it a superb partner for U.S. customers in bringing combat vehicle platforms that are Next-Generation &ndash; Now. For more information, visit&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.rheinmetall-arv-us.com&amp;esheet=52411591&amp;newsitemid=20210414005460&amp;lan=en-US&amp;anchor=www.rheinmetall-arv-us.com&amp;index=2&amp;md5=e63d142f49b217e4c658a6983329e51b">www.rheinmetall-arv-us.com</a>.

		Forward-Looking Statements

		This press release contains forward-looking statements that reflect management&#39;s current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about technology capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

		&nbsp;

		View source version on businesswire.com:&nbsp;<a href="https://www.businesswire.com/news/home/20210414005460/en/">https://www.businesswire.com/news/home/20210414005460/en/</a>
		</li>
	</ul>
	</li>
</ul>

Contracts

L3Harris Technologies, American Rheinmetall Vehicles Sign Agreement To Jointly Develop U.S. Army's New Optionally Manned Fighting Vehicle

Rheinmetall AG (OTC: <a class="ticker" href="/stock/rnmbf#OTC">RNMBF</a>) reported a drop in its third-quarter net profit and lowered its forecast for the year.

For the full year, the company now projects group sales of 4.8 billion euros ($6.13 billion), versus its earlier forecast of EUR4.9 billion. It now expects earnings before interest and taxes of around EUR300 million, versus its earlier forecast of EUR354 million. 

Rheinmetall's quarterly net profit fell to EUR33 million, from EUR44 million, in the year-ago period. 

Its sales fell 0.8% to EUR1.02 billion, while earnings per share dropped 24% to EUR0.86.

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