17:37 - 21.11.2025

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November 21, Fineko/abc.az. German company Renk, which manufactures transmissions and other components for tanks, warships and other equipment, is going to double its revenue by 2030 in the face of growing demand for weapons in Europe, ABC.AZ reports, quoting company's CEO Alexander Zagel.

According to his forecasts, in five years, Renk's annual revenue will range from €2.8 billion to €3.2 billion. The company expects revenue of €1.3 billion this year.

Renk manufactures components for both military and civilian equipment, however, as Zagel noted, 90% of the revenue growth will fall on the defense division. In particular, the company produces transmissions for tank Leopard 2. Renk is closely associated with the production of these tanks - its largest shareholder with a stake of almost 16% is Leopard 2 manufacturer KNDS. According to Zagel, it is the supply of transmissions for tanks that will account for the main increase in company's earnings.