(Reuters) - Rheinmetall will receive 130 million euros ($141.08 million) from European Union funding to increase ammunition production capacity, the German arms manufacturer said on Tuesday.
The money is part of the EU's Act of Support in Ammunition Production (ASAP), a 500-million-euro scheme aimed to expand the manufacturing of 155mm artillery rounds to support Ukraine in its war with Russia.
($1 = 0.9215 euros)