SINGAPORE --- The Land Systems arm of ST Engineering and Rheinmetall signed a Memorandum of Understanding (MOU) to pursue business opportunities for development and sales of defence products, systems and solutions.
ST Engineering and Rheinmetall will collaborate to explore areas of cooperation involving complementary capabilities in design, development, production, global marketing, sales and support of defence systems and solutions related to protection systems and combat vehicles.
Under the area of combat vehicle, the partnership will explore opportunities in the armoured tracked vehicle market, which includes marketing, development, manufacturing, assembly; and Integrated Logistic Support activities such as training and aftersales.
Dr. Lee Shiang Long President, Land Systems arm of ST Engineering, said, “This partnership speaks volumes of industry collaborations that leverage the strengths of both partners to bring about new opportunities in the development of products and expansion of market reach.”
“This is a very significant collaboration that will bring together complementary capabilities and technologies to strengthen the defence industrial base in Singapore, and to jointly expand our presence in important markets worldwide.” said Mr Gordon Hargreave, Member of the Executive Management Board of Rheinmetall
ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. Headquartered in Singapore, ST Engineering reported revenue of $6.7b in FY2018 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index.
Rheinmetall AG, publicly listed and based in Düsseldorf, is an international technology group specializing in security and mobility. Urbanization, demographic change, migration flows, globalization, climate change and the increasing frequency and intensity of conflicts and military disputes mean that efforts to improve security and mobility are constantly increasing. With its two sectors, Rheinmetall Automotive and Rheinmetall Defence, the Rheinmetall Group fulfils these basic key needs of modern society. In 2018, its 24,949-strong staff generated annual sales of €6,148 million.