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A boom in defence orders due to the war in Ukraine, and in
particular demand for Leopard tanks from Kyiv to help in the
fight against Russian forces, has boosted both companies.
Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2
and Munich-based KMW makes its chassis.
KMW had taken legal action against statements made by
Rheinmetall Chief Executive Armin Papperger in a newspaper
interview with the Neue Zuercher Zeitung in March, in which he
was quoted as saying that Rheinmetall owned the rights to the
Leopard 2A4 model.
A district court in Munich said a hearing for Tuesday had been
cancelled because of the settlement between the two companies.
It gave no details.
Rheinmetall said both parties had sought to settle the dispute
as quickly as possible with the aim of returning to day-to-day
business.
"In the statements that have been the subject of complaint,
neither Mr Papperger nor Rheinmetall AG wanted or want to
suggest that Rheinmetall AG has exclusive rights to the Leopard
2A4 main battle tank," the company said in a statement.
Without giving any financial details, it said the legal process
had been terminated by mutual consent.
KMW did not immediately comment.
Higher defence spending helped Rheinmetall post record earnings
last year, and it has joined Germany's DAX blue-chip index.
Earlier this year, Germany bowed to pressure from allies and
agreed to send Leopard tanks to Ukraine.
(Reporting by Alexander Huebner in Munich, Matthias Inverardi in
Duesseldorf; Writing by Madeline Chambers; Editing by Friederike
Heine and Barbara Lewis)
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