MADRID, Spain, Oct. 16, 2013 (GLOBE NEWSWIRE) --
General Dynamics European Land Systems Santa Bárbara Sistemas and Nammo Group announce today the completion of the transfer of operations of the Palencia facility in Spain. The facility is specialized in the manufacturing of various types of ammunition and components. The acquisition has been approved by the Spanish Ministry of Defense, which owns the land and certain assets of the Palencia facility. The transaction that was first announced in November 2012 and was subject to certain conditions that were satisfied on 14 October 2013. Under this agreement, Nammo Group will assume Palencia's existing workforce, assets and production capabilities. About NAMMO With its headquarter in Raufoss, Norway, the Nammo Group is a technology driven aerospace and defense group specializing in technologically advanced products. Nammo's core business is development, production and sales of military and sports ammunition, shoulder fired weapon systems, rocket motors for military and space applications, and global services for environmentally friendly demilitarization. Nammo has 20 manufacturing operations and 2000 employees in Norway, Finland, Sweden, Germany, Switzerland, Canada, Australia and the US. For further information go to www.nammo.com. About General Dynamics European Land Systems Santa Bárbara Sistemas General Dynamics European Land Systems Santa Bárbara Sistemas, with approximately 740 workers, has six factories in Spain and is the main supplier of combat vehicles and artillery systems for the Spanish Army. Furthermore, its products are sold to 50 countries. It forms part of General Dynamics European Land Systems. For more information go to www.gdels.com Sissel Solum Senior Vice President Communication Nammo Group Tel: +47 61 15 22 42 sissel.solum@nammo.com Rafael Moreno Communications Director General Dynamics European Land Systems Santa Bárbara Sistemas Tel: +34 91 585 02 40 rafael.moreno@gdels.com [HUG#1736110]