Leonardo and Germany's Rheinmetall today signed a Memorandum of Understanding aimed at creating a new 50-50 joint venture to develop a European-wide industrial and technological approach in the field of land defense systems.

This is according to a joint note.

The agreement is aimed at the industrial development and subsequent commercialization of the new Main battle tank and Lynx platform for the Armoured infantry combat system program within the Italian Army's land systems programs.

"We consider this agreement a fundamental contribution toward the creation of a European defense space," Leonardo CEO Roberto Cingolani commented.

Specifically, the joint venture, which will be based in Italy, will be the lead systems integrator, prime-contractor and systems integrator, in both the Italian 'Mbt' and 'Aics' programs and will also define the roadmap for participation in the future European main ground combat system.

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(Giancarlo Navach, editing Francesca Piscioneri)