Patria acquires Milrem Latvia SIA
Patria ISP has acquired 100 % of shares of Milrem Latvia SIA from Milrem LCM OÜ, the company announced on 12 February.
The acquired company will be named Patria Latvia and will focus on the Latvian market.
Patria provides defence, security and aviation life cycle support services and technology solutions to aerospace and military customers. Its solutions include equipment availability, continuous performance development as well as selected intelligence, surveillance and management system products and services.
Jukka Holkeri, president, international support partnerships, Patria, said: ‘This acquisition is part of the execution of Patria’s strategy in which one of the main growth areas is international maintenance and life-cycle support business. Through Patria Latvia, Patria enters the Latvian defence market and is there to stay. Patria will offer a broad scope of services to the Latvian National Armed Forces and to international OEMs operating in Latvia.’
Patria is owned by the State of Finland (50.1%) and Norwegian Kongsberg Defence & Aerospace AS (49.9%).
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