Raskone sold its Millog shares to Patria and Insta

Raskone Oy, which specialises in repair and maintenance services for commercial vehicles, has sold its 8% share of Millog Oy to the company's owners Patria Oyj and Insta Group Oy, in proportion to their ownership (Patria 55% and Insta 34%). Patria now owns 59.9% and Insta 37.1% of Millog. The remaining 3.0% of the company's share capital is owned by Millog Oy's subsidiary Oricopa Oy. This deal clarifies the ownership structure of Millog and lets Raskone concentrate on developing its own business.

As a strategic partner of the Finnish Defence Forces, Millog Oy is responsible for providing defence materiel life-cycle support to the Finnish Army. The services provided by Millog include maintenance and materiel services related to non-armoured and armoured vehicles as well as electronic and weapon systems, and modifications and installations for all equipment. Millog is also the largest and longest-serving manufacturer of optical devices in the Nordic countries. Millog's operations are certified and comply with the requirements of standards ISO 9001, ISO 14001 and AQAP 2110.

Additional information: CEO Aarne Nieminen, tel. +358 40 315 7010, [email protected]