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Jukka Holkeri, President, ISP, Patria and Eirik Lie, President, KDAKongsberg Defence & Aerospace (KDA), a subsidiary of KONGSBERG, has entered into agreement with the Norwegian Ministry of Defence for the purchase of Aerospace Industrial Maintenance Norway AS (AIM Norway), which is the Norwegian armed force’s business for maintenance, overhaul and upgrade of the Air Force’s aircraft and helicopters. In order to further strengthen AIM Norways’ deliveries, capability and competence, KDA and Patria have entered into agreement for a shared ownership where KDA’s ownership is 50.1% and Patria’s 49.9%.

Patria will contribute with important experience and competence within aerospace maintenance, and the two companies will jointly ensure a solid foundation for further development. The acquisition is a logical continuation of Patria’s work for the Norwegian defense forces in the helicopter area supporting their NH90 and Bell 412 fleets.

AIM Norway has played a major role in Norwegian aviation industry since 1916 and has 440 employees and revenues of 113 million euros (2017). The company has its main operating base at Kjeller and an operative unit at Rygge air station, and conducts advanced and heavy maintenance, overhaul and upgrade primarily within air military operations. Important priorities are engine maintenance for the new F-35 aircraft and for Norway’s new AW101 search and rescue helicopters. AIM Norway also owns Belgium Engine Center (BEC), with its main operating base in Herstal, outside of Liege in Belgium. BEC is a one-stop shop for engine maintenance, repair and overhaul services.

“The purchase of AIM Norway is an important milestone for KONGSBERG and an important step in the Group’s strategy of being a strategic partner for the Norwegian armed force’s operative requirements, both as a supplier of equipment and for maintenance. With this acquisition our ownership in the Nordic defence industry is further strengthened and we are taking new, important steps in the Nordic and international defence market”, says Geir Håøy, CEO of KONGSBERG.

“Patria has a long history and solid know-how in combat aircraft and helicopter maintenance, including their engines, both in Finland and other Nordic countries, and now this business will be brought to the next level. I am pleased that our competence is acknowledged internationally. Growth in international maintenance operations is at the core of our strategy. Patria has also established a new subsidiary, Patria ISP Oy, focusing on the international maintenance and lifecycle support business. This corporate structure enables the necessary firewalls between Patria's international business and the strategic partnership with the Finnish Air Force”, states Olli Isotalo, President and CEO of Patria Group.

Photo: Jukka Holkeri, President, International Support Partnerships, Patria and Eirik Lie, President, KDA (photo available at Patria's material bank/Photos and Images)

For further information, please contact:

Jukka Holkeri, President, International Support Partnerships business unit, Patria, Tel.: +358 40 869 2008, jukka.holkeri@patria.fi

Patria is an international provider of defence, security and aviation life cycle support services and technology solutions. Patria provides its aerospace and military customers with equipment availability, continuous performance development as well as selected intelligence, surveillance and management system products and services. Patria’s mission is to give its customers confidence in all conditions, and the vision is to be the #1 partner for critical operations. Patria has several locations including Finland, Sweden, Norway and Estonia. Net sales totaled EUR 467.7 million in 2017, and Patria employs 2,800 professionals. Patria is owned by the State of Finland (50.1%) and Norwegian Kongsberg Defence & Aerospace AS (49.9%). Patria owns 50% of Norwegian Nammo, and together these three companies form a leading Nordic defence partnership.

www.patria.fi

KONGSBERG 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 14.5 billion in 2017.

www.kongsberg.com