Germany's Rheinmetall, Europe's largest arms manufacturer, opened a new munitions factory to produce 155 mm artillery shells for Ukraine. The factory, costing €500 million, will eventually produce 350,000 shells annually by 2027. This expansion comes amidst increased military spending in Europe and high demand for these shells. Rheinmetall's stock has surged over 2000% since the Ukraine war began, reflecting investor confidence in the company's role in supplying the conflict. The opening ceremony was attended by NATO's Secretary General and German ministers.

Prepared by Christopher Adams and reviewed by editorial team.