By Mauro Orru

Lockheed Martin Corp. and Rheinmetall AG agreed to explore joint opportunities in research, development and production aimed at providing Germany with a rocket artillery system.

German defense company Rheinmetall said Friday that it has entered into a memorandum of understanding with Lockheed Martin to collaborate on the system.

"For Germany and Rheinmetall, the agreement offers the chance to secure key technologies and a significant share in the value added chain for Germany," said Rheinmetall Chief Executive Armin Papperger.

Rheinmetall didn't disclose financial terms.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

April 21, 2023 03:33 ET (07:33 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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