Rheinmetall and South Korean company LIG Defense&Aerospace (LIG D&A) have decided to form a joint venture to provide state-of-the-art air defence systems for the European and NATO territory. Rheinmetall will hold the majority shares in the JV company.
Rheinmetall and LIG D&A will localize, further develop and market LIG D&A's medium- and long-range air defence (MRAD / LRAD) missile systems in Europe in close conjunction with Rheinmetall's very short-range air defence (VSHORAD). Both partners will co-develop new missiles and capabilities for short-range air defence (SHORAD) to close current gaps in this segment and to provide solutions over all air defence layers.
"Together, LIG D&A and Rheinmetall Air Defence offer a highly complementary portfolio of ground-based air defence solutions designed to meet the market's immediate needs and future challenges," said Oliver Dürr, CEO Rheinmetall Division Air Defence.
"Europe is entering a new era of defense modernization, and we believe this is the right time to deepen cooperation with a trusted European partner, like Rheinmetall, for a long-term strategic partnership in Europe," said Ickhyun Shin, President & CEO LIG D&A. "Together with Rheinmetall, LIG D&A will pursue sustainable cooperation in various aspects such as R&D, marketing, business development and localized production. By combining our advanced, combat-proven missile technologies with Rheinmetall's extensive network and expertise, we will provide highly competitive and interoperable solutions for European market, contributing to strengthening Europe's integrated air and missile defense capabilities."
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