OSLO, Norway, June 4, 2002 (PRIMEZONE) -- Nammo signs co-operation agreement for demilitarization of conventional munitions.
During the visit of the State Secretary of Ministry of Foreign Affairs of Ukraine, Mr. Olexander Chaliy, the Swedish corporation Nammo Vingakersverken has signed an agreement with the Ukrainian Ministry of Defense on the co-operation of demilitarization of the stockpiles of conventional munitions in Ukraine.
The project, most of all an environmental issue, is highly prioritized and supported by the Ukrainian Government. The co-operation has developed from a year's negotiation between the Government of Ukraine and Nammo. The project combines Nammo's strategic expansion in East Europe with the company's focus on the protection of the environment.The co-operation with the Ukrainian Ministry of Defense is an important exchange of technical competence on both sides, as well as a long-term commitment to the project.
Nammo is a Nordic corporation, owned by the Norwegian Government 45%, Patria, Finland 27, 5% and SAAB, Sweden 27, 5% and is specialized in demilitarization of various types of conventional munitions. The Group is one of the major operators in the field of demilitarization in the world and has subsidiaries in Sweden, Norway, Germany and USA. The Group's total turnover in 2001 amounted to approx USD 170 Million