Background and Ownership
The company was founded in 1998, based on a merger of three major Nordic defense companies: Celsius AB, Patria Oyj, and Raufoss ASA. Today the Nammo Group’s shareholders are the Norwegian Government represented by the Norwegian Ministry of Trade, Industry and Fisheries (50 percent) and the Finnish Defense and Aerospace Group, Patria Oyj (50 percent).
Organization and Core Business
The Nammo Group operates through 5 business units: Commercial Ammunition, Small and Medium Caliber Ammunition, Large Caliber Ammunition, Shoulder Fired Systems, and Aerospace Propulsion. Its product portfolio includes shoulder-launched munitions systems, military and sports ammunition, rocket motors for military and space applications, and environmentally friendly demilitarization services.
80% of Nammo’s business comes from national armed forces and national defense industries in the countries where the organization operates. The remaining portion of the company’s business is comprised of commercial sales of services and sports and security products. Of a 2017 revenue of NOK 4.45 billion (USD 550 million), nearly 90% came from sales in Europe and North America.