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
-
![K9 rolls on as Egypt unveils systems, Australia fires and Vietnam and Norway place orders]()
K9 rolls on as Egypt unveils systems, Australia fires and Vietnam and Norway place orders
Hanwha Aerospace’s tracked K9 Thunder 155mm/52-calibre self-propelled howitzer has had notable success in the market over the past few years in Europe and Asia, with Poland alone ordering 316 systems.
-
![US Army orders more upgraded Bradleys as transformation threatens other programmes]()
US Army orders more upgraded Bradleys as transformation threatens other programmes
Compared to previous versions of the vehicle, the Bradley M2A4 upgrade includes an uprated suspension, a more powerful engine, an independent commander’s sight, a more capable electronic architecture and improved networking capabilities.
-
![De-Risking the Future: Manufacturing Certainty for Unmanned Systems]()
De-Risking the Future: Manufacturing Certainty for Unmanned Systems
How strategic manufacturing partnership solves the industrialisation triad — Scale, Compliance and Cost — for hyper-growth defence tech innovators.
-
![Battlefield mobility, made in the UK]()
Battlefield mobility, made in the UK
How does Britain ensure that we can preserve the lives of our soldiers and allies – now and in the future – with homegrown innovation and resilient domestic manufacturing? At Pearson Engineering, we are proud to be a central part of the answer to this increasingly important question.
