Patria, Slovenian Ministry of Defense Sign AMV and Nemo Purchase Agreement


Released on Tuesday, December 19, 2006
Slovenia
AMV 8x8
Nemo
AMV - Armored Modular Vehicle
CEO - Chief Executive Officer
The Slovenian Ministry of Defence has today signed agreements with Rotis and Patria covering 135 Patria AMV 8x8 vehicles as well as Patria Nemo 120 mm single-barrel mortars to the Slovenian Army. Patria's New Mortar system Patria Nemo launched in June 2006 now records its first international business deal. Both products represent the newest technology on the market and offer unique protection and performance. Production will gradually be transferred to Slovenia in 2007 and 2008. Together with Patria and Rotis, Gorenje will also be involved in the production.

The value of the agreements is EUR 278 million.

Mr Jorma Wiitakorpi, CEO and President of Patria stated: "We are content that Slovenia has chosen the best technology. Patria will produce the vehicle and the mortars through direct participation of local partners. In addition, our offset agreements will bring great benefits to the Slovenian economy as a whole. Our Patria AMV 8x8 vehicle is the winner of several army field tests in different countries and the first of its kind in the world with the unique level of mine protection certified by South African authorities. Patria Nemo, the newest member in Patria's mortar system family was launched in June 2006. Since then, not only Slovenia but also other countries have recognised the superiority of this mortar system and we foresee bright future prospects."

Mr Ivan Crnkovic, President of Rotis said: "We are proud that negotiations ended successfully. Rotis will with Slovenian industry - that is with those companies that showed interest - conduct the production of elements and major components. Together we will, as offered by the offer, conduct the involvement of Slovenian industry in the share of 30% of the deal value. For the rest of 70% we would realize offset, that is export of Slovenian products and services to the world and in that way for many Slovenian companies open the door for placement on new markets, new products and acquiring new technological knowledge."

Source: Patria AMV 8x8 vehicle and Patria Nemo mortar system agreements signed with Slovenian Ministry of Defence

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