Rheinmetall Completes Acquisition of Spain’s Expal Systems

Rheinmetall AG said it has completed its takeover of all shares in Expal Systems S.A.U. of Madrid.

First announced last November, the acquisition follows final approval by the relevant authorities. The transfer of Expal S.A.U.’s business activities to Rheinmetall took place on 1 August 2023.

The purchase price for the takeover of ammunition and armament manufacturer Expal Systems S.A.U., is about €1.2 billion.

Moving forward, the company will operate under the name “Rheinmetall Expal Munitions, S.A.U.”.

Rheinmetall is an important supplier to the Ukrainian armed forces with large amounts of medium- and large-calibre ammunition, including 20mm automatic cannon rounds for the Marder infantry fighting vehicle, and 105mm and 120mm tank ammunition for the Leopard 1 and Leopard 2. In addition, a first lot of 35mm ammunition for the Gepard anti-aircraft tank will soon be ready for shipment.

The acquisition provides Rheinmetall with swift access to greater production capacity, covering the entire ammunition production value-added chain, with multiple plants in Spain and a demilitarization and soil remediation business in the United States, Rheinmetall said in a statement.