Sat. Jul 20th, 2024

German manufacturer IRIS-T reported significant growth

Natasha Kumar By Natasha Kumar Jul3,2024

German manufacturer IRIS -T reported significant growth

Nuremberg-based conglomerate Diehl is growing significantly thanks to its arms division with the IRIS-T air defense system.

About this, as “European Truth” writes, n-tv reports.

In 2023, the group's sales increased by 10.8% to 3.88 billion euros, the group's financial director reported.

Only the arms production division increased by 41%, up to 1.14 billion euros.

Member of the board of the division, Helmut Rauch, expects a further jump in sales in the arms sector to 40% this year. The threshold of 2 billion euros must be reached by 2026.

The company's annual profit jumped by 109% to 174 million euros in 2023 compared to the previous year.

Remember, the fire at at the Diehl plant in the southwestern part of Berlin happened on May 3. As a result, the technical room on the first floor of the factory building burned to the ground, the damage amounts to millions of dollars.

After this publication, Bild and The Wall Street Journal reported on a possible sabotage operation by Russia as the cause of the fire at the factory in Berlin. At the same time, Bild claimed that foreign intelligence informed Germany about “concrete signs of Russian involvement” in the incident.

Furthermore, in May, the German government officially confirmed that it had transferred another IRIS-T air defense system to Ukraine.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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