April 30 (Reuters) - Germany's Rheinmetall and

U.S. firm Lockheed Martin ( LMT ) have agreed to expand their

cooperation and extended a memorandum of understanding signed in

2024, they said in a joint statement on Wednesday.

The two defense groups will set up what they call a "center

of excellence," led by Rheinmetall, which will manufacture

rockets and missiles and will operate in Germany and other

European countries, they added.

"Rheinmetall will not only be involved in sales but will

also contribute significantly to the production," Chief

Executive Armin Papperger said in a statement.