German arms manufacturers experiencing a boom

 

Great to know there’s some good news in the world. German arms manufacturer’s profits up by 27%. There’ll be more German workers being exploited by the capitalist class too. Forty billion euros of ammunition will be sold up to 2031. Get in touch with your stockbroker quickly and get a piece of the pie. Arms manufacturers are saying to undertakers, hold my beer.

How long is the global working class going to let this insanity continue?

‘Dusseldorf-based arms manufacturer Rheinmetall, Germany’s largest defence contractor, has recorded a surge in orders due to the conflict in Ukraine, Die Welt reported on Friday, citing company data.

According to the report, the company received 18% more orders in 2022 than the year prior. It is now planning to significantly increase production.

The report notes that the arms maker intends to launch a new munitions production line at the Rheinmetall plant in Lower Saxony in the near future and hire several hundred additional employees, aiming to increase its output capacity to the level of the 1980s at 600,000 rounds of ammunition per year.

As noted by the news outlet, thousands of people are already working in three shifts at the facility in order to speed up work on current orders. This reportedly includes maintenance and repairs of Marder infantry fighting vehicles, Leopard 2 tanks and Panzerhaubitze 2000 self-propelled artillery units, and ammunition for Ukraine.

Rheinmetall reportedly expects double-digit sales growth in the coming years. The company forecasts that Germany alone will have to buy €40 billion ($43.6 billion) worth of ammunition by 2031. Earlier this week, the German Bundeswehr placed its latest order with Rheinmetall for 367 protected and unprotected logistic vehicles worth around €285 million.

Germany reportedly ranked sixth globally in weapons exports in 2022, with defense contractors enjoying order backlogs and soaring profits amid global rearming due to the conflict in Ukraine. According to estimates, Berlin approved arms exports totaling over €8.35 billion last year, the country’s second-highest figure ever, after an all-time high of €9.35 billion in 2021.

Rheinmetall earlier reported record €6.4 billion earnings for 2022, up by 27% from 2021, along with a record order backlog of €26.6 billion. In the first quarter of 2023, the company’s consolidated sales rose by roughly €97 million, or 7.6% year-on-year, to €1.4 billion. The backlog increased by 8% year-on-year to €28.2 billion.’