Nammo Acquires Talley Defense Systems Inc. in USANammo AS, Raufoss, Norway, and Talley Defense Systems, Mesa, Arizona, recently signed an agreement, whereby Nammo will acquire Talley. The acquisition will be in effect from 01.01.2007, and pending final U.S. Government regulatory approval the Closing is expected 1st Quarter 2007.
Nammo and Talley have a long-standing business relationship, with over 25 years of cooperative development, production and marketing of shoulder-launched weapon systems internationally and for the US military. The two companies possess complementary capabilities in different market niches and operate in different geographic markets. This acquisition is expected to strengthen the market growth of both Nammo and Talley.
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NAMMO is a world leading supplier of ammunition, missile products and demilitarization services. The Nammo Group has subsidiaries in Finland, Germany, Norway, Sweden, Switzerland and the USA. In 2005, the company's revenues reached 240 MUSD and the average number of employees was 1200.
The North American market is important to Nammo and represents approximately 25% of Nammo's total sales. The acquisition of Talley will reinforce Nammo's position in the US market and facilitate further growth in US sales. Talley will continue as an independent entity in the Nammo Group.
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Source : Nammo