Patria sells its shareholding in Engines Service Partners Svenska AB

(September 13, 2010) -- Recently Recotech AB has acquired GSE Partners AB and its subsidiary ES Partners Svenska AB (ESP). All three companies have a common history and heritage in the aviation industry, and are located in Arboga Science Park in Sweden. Connected to this ownership change Patria has sold its minority shareholding of 19.9% of ESP to Recotech AB. ESP offers tailor-made services in engine life cycle support and is active in small aero-engine maintenance, employing currently 12 highly skilled specialists. Patria welcomes the Recotech full ownership of ESP with satisfaction as it will give synergy effects and power to growth for the company and gives also a wider range of services and offers to customers. Patria is looking forward to working in close cooperation with the new Recotech Group as a reliable service provider in the Nordic region
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Source: Patria Oyj
Date: Sep 14, 2010