Norway to privatize state-owned aircraft maintenance company

OSLO, Norway, Nov. 17 (UPI) -- Norway's state-owned company for maintenance of military aircraft is to be transformed into a privately owned enterprise.

Defense Minister Ine Eriksen Søreide said the conversion of Aerospace Industrial Maintenance Norway SF, or AIM Norway SF, is a strategic ownership measure necessary to further develop the company.

AIM Norway SF was formerly known as Air Force LHK. Its owner is the Ministry of Defense. It has a contract for work related to F-35 Lightning II fighters and will have the opportunity to establish a capacity to maintain F135 engines for the new fighters.

"This is in line with the government's goal that private ownership should be the general rule in Norwegian industry, and that state ownership should be decided on a case-by-case basis," the defense minister said. "A broader ownership can add significant and relevant expertise required to further develop the company, and contribute to synergy with other relevant defense industry."

No timetable for converting the company to private ownership was given.