KONGSBERG and Patria enter into agreement on Missile Systems
Kongsberg Defence & Aerospace (KONGSBERG) and Patria have entered into an agreement to develop opportunities for cooperation on Missile Systems. The agreement comprises the establishment of a Missile Competence Center in Finland, Open Tactical Framework (OTF) core technologies and system architecture software for missile programs in Finland and international opportunities linked to these capabilities.
The Missile Competence Center will focus on advanced missile system technology, to support both the Finnish Defence Forces in effective local security of supply and supporting industrial missile development activities with KONGSBERGs global present and future customer base.
KONGSBERG and Patria have a long successful cooperation in Finland delivering NASAMS air defence and Remote Weapon Stations. With this new agreement, the two companies enter into a deeper cooperation to pursue new opportunities in Missile Systems and Coastal Defence Systems building a long-term partnership for the Finnish and international markets.
In March 2016, KONGSBERG announced the procurement of 49.9 per cent of the shares in Patria Oyj, creating a Nordic defence giant. Patria owns 50% of NAMMO and together KONGSBERG, Patria and Nammo have complimentary world-leading products, as well as key geographical areas that strengthen each other. The Governments of Norway and Finland hold a majority stake in respectively KONGSBERG and Patria.
The ownership structure, combined with Patria’s position in Finland and KONGSBERG’s global alliances and position in Norway, makes the alliance considerably stronger in a growing global defence market. The alliance has more than 12.000 employees and a turn-over of more than 23 billion NOK / 2,5 billion Euro.
“I am very proud to sign this agreement with Patria on behalf of KONGSBERG. We see interesting opportunities working together and are ready to share technology and competence in a long-term partnership with Patria”, says Eirik Lie, President, Kongsberg Defence & Aerospace AS.
"This is only a starting point for a long-term cooperation on Missile Systems between Patria and KONGSBERG. Our goals are ambitious. Patria and KONGSBERG join their industrial potentials in order to increase defence capabilities of both countries as well as support the economic development of our countries", says Olli Isotalo, President and CEO, Patria.
For further information, please contact:
Kyrre Lohne, Vice President Communication, Kongsberg Defence & Aerospace AS,
Mob (+47) 9170 4933, [email protected]
Birgitta Selonen, Chief Communications Officer, Patria,
Mob (+358) 40 869 2043, [email protected]
KONGSBERG (OSE-ticker: KOG) is an international, knowledge-based group delivering high technology systems and solutions to clients within the oil and gas industry, merchant marine, defence and aerospace. KONGSBERG has 7 000 employees located in more than 25 countries and total revenues of NOK 15.8 billion in 2016. Follow us on Twitter: @kongsbergasa.
This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.
Patria is a trusted provider of defence, security and aviation life cycle support services and technology solutions. Besides Finland, the Group has operations in Sweden, Norway, Estonia, Poland, the United Arab Emirates, the United States and South Africa. Patria employs 2,800 professionals. Patria is owned by the Finnish state (50.1%) and the Norwegian Kongsberg Defence & Aerospace AS (49.9%).
