Kongsberg and Patria agree to purchase AIM Norway

14 December 2018 (Last Updated December 14th, 2018 12:57)

Kongsberg Defence & Aerospace (KDA) and Patria have agreed to acquire Aerospace Industrial Maintenance Norway (AIM Norway).

Kongsberg Defence & Aerospace (KDA) and Patria have agreed to acquire Aerospace Industrial Maintenance Norway (AIM Norway).

To this end, KDA and the Norwegian Ministry of Defence have entered an agreement for the purchase.

AIM Norway is involved in the maintenance, overhaul and upgrade of aircraft and helicopters for the Norwegian Air Force.

A separate agreement has been signed by KDA and Patria. It is expected to boost AIM Norway’s deliveries, capability and competence.

Under this agreement intended for shared ownership in AIM Norway, KDA will hold 50.1% and Patria’s share will be 49.9%.

Kongsberg CEO Geir Håøy said: “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 Forces’ operative requirements, both as a supplier of equipment and for maintenance.

“Patria has established a subsidiary, Patria ISP Oy, focusing on the international maintenance and lifecycle support business.”

“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.”

The acquisition of AIM Norway is also expected to strengthen the activities Patria is currently offering to the Norwegian NH90 and Bell 412 fleets.

Patria Group president and CEO Olli Isotalo said: “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.”

AIM Norway has an operating base at Kjeller and an operative unit at Rygge air station. It also operates Belgium Engine Center (BEC) for engine maintenance, repair and overhaul services in Herstal.

The business, which reported revenues of €113m last year, is also involved in engine maintenance for the new F-35 aircraft and Norway’s new AW101 search and rescue helicopters.