F126 Program Cancelled

On Wednesday, Germany announced it would scrap the F126 anti‑submarine frigate program, a decision that has reverberated across Rhein Metall’s operations and the broader European defense sector. The cancellation, driven by significant delays, cost increases and contractor risk, meant the company lost a €12.8 billion contract in which it had been slated to be the lead contractor after acquiring Naval Yards Lürssen for €1.5 billion earlier this year.