Rheinmetall, Cassidian Agree to JV

LONDON — In a sign that European defense companies may be stepping up activities to rationalize their product portfolio, Rheinmetall and EADS’s Cassidian unit have agreed to a joint venture (JV) covering tactical and medium-altitude unmanned aircraft and cargo loading systems.

Cassidian will control 51% of the JV, although Rheinmetall ...