The Hungarian Defense Forces‘ Lynx combat vehicles are being equipped with top-tier gear. Rheinmetall is also producing military equipment in Hungary, reported Világgazdaság.
Rheinmetall announced a significant agreement that also affects Hungary. The German defense company has signed a contract with the Patria Group, a Finnish-Norwegian joint venture, to supply mortar systems for the Hungarian army.
Under the agreement, at least 24 NEMO mortar systems manufactured by Patria will be integrated into the new version of the Lynx infantry fighting vehicles being produced for Hungary.
Rheinmetall has long been active in the country. Rheinmetall Hungary, a joint venture between the German company and the Hungarian government based in Zalaegerszeg (west side of the country), develops and manufactures modern tracked and wheeled vehicles—such as the Lynx—for the Hungarian armed forces. Meanwhile, Rheinmetall Electronics Hungary, located in Budapest, focuses on developing and testing comprehensive, high-end software solutions for large-scale military or civilian client projects.
Strategic partnership news between Patria and Rheinmetall for the Hungarian ZRINYI programme Patria has signed a supply agreement with Rheinmetall’s subsidiaries for the delivery of Patria NEMO mortar systems.
the NEMO is a 120 mm turreted mortar system equipped with fully automated fire control capabilities.
It is designed for integration into light and personnel combat vehicles. The system can provide both direct and indirect fire support with high accuracy and rapid deployment capability. One of its key features is the semi-automatic loading mechanism, which enhances firing efficiency and responsiveness in combat situations.
Fact
Rheinmetall closed another record year in 2024, increasing its revenue by 36% to 9.751 billion euros. Within this, defense-related revenue—now accounting for 80% of the total—increased by over 50%. Accordingly, the company’s operating profit also grew significantly: from 918 million euros to 1.478 billion euros, marking a 61% increase.
One of this year’s best-performing European stocks so far has not been spared either, as investors are offloading everything. While defense companies have been considered good buys in recent months, they have proven vulnerable to the current wave of panic selling. Rheinmetall and its sectoral competitors are also experiencing steep declines.
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