European Aeronautic Defence and Space (EADS) is taking a 26.8% stake in Finnish state-owned technology group Patria Industries in an effort to bolster its chances of winning the Nordic Standard Helicopter Programme (NSHP) competition. Eurocopter, wholly owned by EADS, is the majority shareholder in NH Industries which is offering the NH90 helicopter for the NSHP requirement.
Patria's core activities include products and services in the aerospace, defence and telecoms sectors. The company posted net sales of €193 million ($177 million) in 1999. The EADS deal is set to close by mid-year, subject to approval by the Finnish Government and competition regulators.
The NSHP aims to select a common platform to satisfy the maritime needs of Denmark, Finland, Norway and Sweden.
Source: Flight International
