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The company will be renamed Rheinmetall Resonant South Africa. Credit: Flying Camera / Shutterstock

Rheinmetall’s munitions division has announced that it has purchased a majority stake, worth 51%, in a South African specialist in plant engineering and chemical applications named Resonant Holdings. Both parties agreed not to disclose the purchase price, while the transaction and the name are subject to customary regulatory approvals. Nevertheless, it is anticipated that this new joint venture will accrue an annual sales potential of more than €100m ($109.6m).

Lockheed Martin‘s Q2 financial results highlighted a 9% increase in net sales and a notable rise in free cash flow, even as net earnings experienced a slight decline. The aerospace and defence company reported net sales of $18.1bn, marking a 9% increase from the previous year’s $16.7bn. The company’s net earnings for the quarter stood at $1.6bn, or $6.85 per share, slightly down from $1.7bn or $6.63 per share in the same period last year.

Elbit Systems has entered a ten-year, $340m deal to supply the Israel Ministry of Defence with ammunition. As part of this long-term deal, Elbit also plans to build a new munitions manufacturing plant in Israel. The decision was taken to ensure the sustained capability of the Israel Defence Forces in its future operations in the Eastern Mediterranean beyond the ongoing war against the Palestinian militant group Hamas in Gaza.

JP Morgan and Houlihan Lokey were the top mergers and acquisitions (M&A) financial advisers in the North American region during H1 of 2024 by value and volume, respectively, according to the latest Financial Advisers League Table by GlobalData. GlobalData’s Deals Database revealed JP Morgan achieved its position in terms of value by advising on $209.5bn worth of deals. Meanwhile, Houlihan Lokey led in terms of volume by advising on a total of 81 deals.