Oricopa´s and Insta DefSec´s integration businesses to be merged
Oricopa´s and Insta DefSec´s integration businesses to be merged Oricopa to become Millog´s subsidiary Patria's subsidiary Millog Oy intends to acquire the company that comprises Oricopa Oy and business of Insta DefSec Oy. The new company will continue to operate under the name of Oricopa Oy and becoma a fully-owned subsidiary of Millog Oy.
The operational sites of the company are located in Tampere, Orivesi and Kuopio. The company has an annual turnover of approximately EUR 20 million and employs 82 people. The transaction will be completed by the end of January 2012. Amid intensifying competition, this corporate transaction will secure the Finnish defence equipment industry’s chances for success. “Substantial synergy and centralisation benefits will be gained with regard to integration and modernisation projects for weapons systems, equipment, and weapon maintenance, for instance. The transaction forms an excellent foundation for business growth and enables operations as a flexible, cost-efficient partner,” says Aarne Nieminen, President of Millog.
For further details, please contact:
Aarne Nieminen, President,
Millog Oy, tel. +358 40 315 7010
Millog is a provider of maintenance services and a strategic partner of the Finnish Defence Forces. The company is responsible for the maintenance and support of the Finnish Army’s weapons and electronic systems and the vehicle fleet, and participates also in the ground forces’ materiel projects. Millog employs around 700 people in seven locations and has a turnover of approximately EUR 100 million.
