Nammo acquiers MTH SA (Micro Technology Heremence)
On Tuesday April 8th Nammo Raufoss AS, a daughter company of Nammo AS, signed the Sales & Purchase Agreement to acquire 100% of Micro Technology Hérémence SA (MTH) in Switzerland.
The new name of the company will be Nammo MTH SA.
MTH was established in 2002 and is a specialized fuze development and production company. Total turnover in 2007 was 4 Mill Euro and the number of employees was approximately 30.
MTH has a strong role as sub-supplier of fuzes for Nammo’s range of 40 mm grenade launched ammunition and fits with the synergies of Nammo’s ammunition range of products. As a new member of the Nammo Group, MTH will have a good position to become an even stronger professional player within the fuze business in Europe.
The Nammo Group is a leading supplier of ammunition, missile products and demilitarisation services. The Nammo Group has subsidiaries in Finland, Germany, Norway, Sweden, Switzerland and the United States. Nammo’s shareholders are the Norwegian Ministry of Trade and Industry (50%) and the Finnish Defence and Aerospace Group, Patria Oyj (50%). Nammo Raufoss AS is located at Raufoss in Norway.
A. Erland Paulsrud
President Nammo Raufoss and Board Director Nammo MTH SA
Tel: +47 61 15 29 48
President & CEO of Nammo MTH SA
Tel: +41 27 282 50 57
Vice President Communication
Tel. +47 61 15 22 42