Germany’s Rheinmetall has 5-yr supply of semiconductor chips – Rheinische Post

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FRANKFURT (Reuters) – German army gear maker Rheinmetall’s chip provides ought to final 5 years after it spent 500 million euros ($519 million) this yr to ramp up stock of semiconductors and digital elements, Rheinische Post reported on Friday.

Rheinmetall’s share worth has virtually doubled since Russia’s invasion of Ukraine after which Germany stated it will ramp up its historically low army spending by 100 billion euros.

At the identical time, the booming demand for army gear isn’t a purpose for Rheinmetall to promote its automotive unit, which provides carmakers with engineering elements akin to pumps and valves, Chief Executive Armin Papperger informed the newspaper.

“It is true that protection know-how is gaining in significance. But we’ve got no plans to exit our civilian actions,” Papperger informed Rheinische.

($1 = 0.9638 euros)

(Reporting by Zuzanna Szymanska; Editing by Kirsten Donovan)



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