The Kongsberg group and Finnish defense group Patria together have entered into agreement with the Norwegian Ministry of Defence for the acquisition of Aerospace Industrial Maintenance Norway AS (AIM).
AIM is the Norwegian armed force’s business for maintenance, overhaul and upgrade of the Air Force’s aircraft and helicopters. Kongsberg has entered into agreement with Patria for a shared ownership where Kongsberg is the majority shareholder with 50.1% ownership and Patria with 49.9%, the company said in a statement Thursday.
The acquisition is a major step in consolidating the Norwegian industry’s capability for military aircraft and helicopter maintenance.
AIM has played a major role in Norwegian aviation industry since 1916 and has 440 employees. The company has its main operating base at Kjeller and an operative unit at Rygge air station. AIM has 100% ownership in the Belgium Engine Center SPRL(BEC) in Herstal outside of Liege in Belgium. The AIM Group conducts advanced and heavy maintenance, overhaul and upgrade primarily within air military operations. Important priorities are engine maintenance for the new F-35 aircraft and for Norway’s new search and rescue helicopters.
An important factor during the acquisition process has been to facilitate the development of AIM to become a main provider of maintenance of the Norwegian Defense force’s airforce systems, so that AIM can contribute to safeguard national readiness on such maintenance. This co-operation will strengthen national ability to sustain a qualified readiness for such competence in Norway.
AIM Group is expected to have a revenue of around NOK 1 billion (US$ 117 million) and an EBITDA margin of 8-9% for 2018. The parties have agreed an enterprise value of NOK 151 million (US$ 17.6 million), on a cash and debt free basis, and with normalized working capital. This value reflects i.a. a commitment for AIM to invest around NOK 540 million (US$ 63 million) in the new F-35 national facility at Rygge over the next 2-3 years.
Kongsberg has received $65.5 million order from Lockheed Martin for deliveries of more than 150 F-35 Joint Strike Fighter aircraft structural parts
Kongsberg has entered into contract worth 124 million euros ($153 million) with the Royal Malaysian Navy for delivery of the Naval Strike Missile (NSM) to their six new Littoral Combat Ships. Boustead Naval Shipyard Sdn Bhd is building the ships based on Naval Groups Gowind Class design
Norwegian technological firm Kongsberg has signed a long-term technology development program deal valued at more than $194.1 billion with Qatars Barzan Holdings, on the sidelines of the on-going DIMDEX expo, held in Doha, Qatar
Kongsberg Defence & Aerospace (Kongsberg) and Patria have entered into an agreement to develop opportunities for cooperation on missile systems. The agreement comprises the establishment of a Missile Competence Center in Finland, Open Tactical Framework (OTF) core technologies and system architecture software for missile programs in Finland and international opportunities linked to these capabilities
Kongsberg unveiled a new naval ship design called Vanguard on Thursday. The boat can be used for both military and civilian operations, such as Search & Rescue, Harbor and Assets Protection, Subsea Survey, Exercising Authority and Sovereignty, Anti-Access/Area-Denial, Anti-Submarine Warfare and Mine Clearance, and Detection and Disposal
Schiebels CAMCOPTER S-100 Vertical Takeoff and Landing (VTOL) Unmanned Air System (UAS) has been selected by Norways Andøya Test Center to carry out extensive search and rescue trials as part of the Arctic 2030 project. According to the company, the CAMCOPTER S-100 in its typical configuration can operate for six hours continuously
The Norwegian Defence Materiel Agency (NDMA) has awarded a contract to Krauss-Maffei Wegmann (KMW) for six Leguan bridge layer systems to be used on Leopard 2 chassis. In addition to the vehicle systems, training simulators and a peripheral package are also part of the procurement project, the company said in a statement Thursday
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