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Rheinmetall, Raytheon to cooperate in defense technology

FRANKFURT German and U.S. defense groups Rheinmetall (RHMG.DE) and Raytheon (RTN.N) have signed a memorandum of understanding to cooperate globally on defense technology, they said in a joint statement on Friday.

The partnership should bring together Raytheon’s market-leading position in air-defense systems and guided missiles with Rheinmetall’s expertise in combat and defense systems, army weapons and munitions, they said.

(Reporting by Georgina Prodhan; Editing by Maria Sheahan)

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