Size matters in Nordic consolidation
In a further move in the ongoing consolidation of the Nordic defence industry, Kongsberg has agreed to purchase 49.9% of vehicle manufacturer Patria from the Finnish government, it was announced on 17 March.
The €272 million contract also includes part ownership of Nammo, which is 50% owned by Patria. Patria reported revenues of NOK 3.8 billion (€40 million) in 2015.
Patria is one of the leading suppliers of defence equipment in Finland, while Kongsberg boasts strong global alliances.
In 2014 Airbus Group sold its entire 28.8% stake in Patria, meaning that the Finnish state took whole ownership of the company.
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