(Reuters) -Tank gearbox maker Renk will shift production of products it sells to Israel should a German embargo of weapons exported to the country take effect, CEO Alexander Sagel said during a post-earnings call.
“If we cannot produce them (hundreds of transissions) in Germany, we will relocate these volumes to a different plant, for example to the U.S.. This might take maybe 8 to 10 months, but, if there’s no move forward, we will do it because we have this business,” Sagel said.
Germany is to suspend exports of weaponry that could be used in the Gaza Strip because of Israel’s plan to expand its operations there, Chancellor Friedrich Merz said last Friday.
Israel represents between 2% and 3% of Renk’s business portfolio, Sagel said during the call.
(Reporting by Paolo Laudani and Maria Rugamer in Gdansk; Editing by Matt Scuffham)
