RAUFOSS, Norway, Nov. 17, 2014 (GLOBE NEWSWIRE) -- Nammo Lapua Oy, a Finnish subsidiary of the Nammo Group, has signed an agreement with the Finnish aerospace and defense group, Patria to acquire the ammunition facility in Sastamala.
The facility in Sastamala is specialized in production of components for artillery -and mortar ammunition.
By acquiring the Sastamala facility Nammo secures continued activity of the production line and employs a large part of the employees who were already given notice by Patria.
Finland has always been one of the most important home markets for the Nammo Group. The partnership agreement signed between Nammo and the Finnish Defense Forces in January 2014 should strengthen Nammos position and relationship with the Finnish Defense Forces. The acquisition of the Sastamala facility proves Nammos seriousness with regards to its position in Finland. Nammo increases the security of supply for the Finnish Defense Forces and further strengthens the partnership agreement.
"The facility in Sastamala fits well into Nammos large caliber ammunition activities and at the same time we secure that the competence remains in Finland. With this acquisition Nammo will play an important role in Finland with regard to national security", says Erkki Mäkelä, Site Manager, Nammo Lapua Oy.
"We are very satisfied with the agreement. Nammo is a world class ammunition house with a broad product portfolio and a very strong position in the international market. This creates a solid base to continue the ammunition activities in Sastamala", concludes Mika Kari, President, Patria Land Systems.
For more detailed information, please contact:
Nammo Lapua Oy, Vihtavuori Site
Tel: +358 10 52 33 200
The Nammo Group is a high-technology supplier to the aerospace & defence industry. Its core businesses are military and sporting ammunition; shoulder launched munitions; rocket motors and actuators for aerospace applications; and environmentally friendly demilitarization. Nammo has 2,200 employees working in 22 facilities located in 9 countries.
Source: Nammo AS