Lockheed Martin's ATACMS

Lockheed Martin [LMT] and Germany’s Rheinmetall signed an agreement on Tuesday to move toward co-production of the Army Tactical Missile System (ATACMS) guided weapon. The deal involves establishing an ATACMS production line at Rheinmetall’s facility in Unterluess, Germany, the first such site to build the weapon outside the U.S., with the companies adding the arrangement “addresses the immediate demand for locally produced munitions in Europe.” “This partnership marks a watershed moment for European security and allied industrial cooperation. By combining…