Patria’s subsidiary Millog Oy intends to acquire the company that comprises Oricopa Oy and business of Insta Def Sec Oy. The new company will continue to operate under the name of Oricopa Oy and become a fully-owned subsidiary of Millog Oy.

The operational sites of the company are located in Tampere, Orivesi and Kuopio. The company has an annual turnover of approximately €20 million and employs 82 people. The transaction will be completed by the end of January 2012.

“Substantial synergy and centralisation benefits will be gained with regard to integration and modernisation projects for weapons systems, equipment, and weapon maintenance, for instance. The transaction forms an excellent foundation for business growth and enables operations as a flexible, cost-efficient partner,” said Aarne Nieminen, President of Millog.