Patria investing in Estonia - Patria has acquired a majority of Estonian Milrem LCM OÜ
In October Patria signed an agreement with Mootor Grupp to acquire their share of 60% of the largest defence maintenance contractor in Estonia – Milrem LCM OÜ. Milrem acquisition is part of the execution of the new Patria strategy in which one of the main growth areas is partnerships with defence forces in life-cycle support services, particularly in northern Europe. Patria aims to develop Milrem’s competence and capability further and the company will continue under Estonian leadership.
“We are looking forward to continue the close cooperation with the Estonian Defence Forces and to grow it to partnerships also in new areas of which we have great experiences from Finland and other countries. Milrem LCM is also a good basis for us to grow further in the other Baltic countries,” states Jukka Holkeri, President, International Support Partnerships of Patria.
Finland and Estonia have long cooperation traditions. Within this cooperation, Finland also sold 2004 some 60 surplus Patria XA vehicles to Estonian Defence Forces. Patria and Milrem both have an important role in supporting the XA fleet.