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Size matters in Nordic consolidation

18th March 2016 - 15:17 GMT | by Beth Maundrill in London

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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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Beth Maundrill

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Beth Maundrill


Beth is Deputy Editor - Land at Shephard Media, managing coverage across all formats of …

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