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.
Already have an account? Log in
Want to keep reading this article?
More from Land Warfare
-
![US DoD task force’s DroneHunter acquisition lays groundwork for Replicator 2 CUAS strategy]()
US DoD task force’s DroneHunter acquisition lays groundwork for Replicator 2 CUAS strategy
As the US Department of Defense looks to counter the growing threat of uncrewed aerial systems to improve homeland security, the DroneHunter acquisition could point to future commercial innovation.
-
![Norway opts for Hanwha’s Chunmoo for long-range fires under $2 billion deal]()
Norway opts for Hanwha’s Chunmoo for long-range fires under $2 billion deal
The selection of Hanwha’s K239 Chunmoo long-range precision fires system, with a contract expected to be signed on 30 January, makes Norway the second European country to choose the system. It is expected an operational system will be in service within four years.
-
![Layered protection: How air defence is adapting to rising drone and missile threats (podcast)]()
Layered protection: How air defence is adapting to rising drone and missile threats (podcast)
A surge in aerial threats – from advanced missiles to low-cost drones – is reshaping the way militaries approach air defence, driving demand for flexible, multi-layered solutions.
