Nammo subsidiary buying Patria ammunition facility

RAUFOSS, Norway, Nov. 18 (UPI) -- The Finnish subsidiary of Norway's Nammo Group is acquiring an ammunition facility in western Finland owned by Patria.

Terms and conditions of the acquisition were not disclosed, but Nammo said the facility in Sastamala being purchased by Nammo Lapua Oy produces components for artillery and mortar shells.

"The facility in Sastamala fits well into Nammo's large caliber ammunition activities and at the same time we (ensure) that the competence remains in Finland," said Erkki Makela, Site Manager, Nammo Lapua Oy. "With this acquisition Nammo will play an important role in Finland with regard to national security."

Added Mika Kari, president, Patria Land Systems: "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 (acquisition) creates a solid base to continue the ammunition activities in Sastamala."