BUSINESSJun 4 · 11:01 UTCDEFENSE NEWSMiranda Murray and Linda Pasquini, Reuters

Rheinmetall sells struggling auto division to focus on defense

Rheinmetall will sell its Power Systems automotive unit to Aequita for €350 million to focus on defense. The sale, expected to close in Q4, includes retaining 6,250 employees but excludes certain assets like KS Huayu AluTech locations and Dermalog SensorTec.

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Mentioned

RheinmetallorganizationAequitaorganizationAxel GeuerpersonPower Systems divisiontopicUkraine wartopicKS Huayu AluTechorganizationDermalog SensorTecorganizationPierburgorganizationautomotive sectortopic

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