NAMMO’s Talley Acquisition Takes Effect
In Decemner 2006, Nammo AS of Raufoss, Norway and Talley Defense Systems of Mesa, AZ signed an agreement whereby Nammo will acquire 100% of Talley. The acquisition is in effect as of January 1, 2007, closing is expected in Q1 Quarter 2007 pending final U.S. Government regulatory approval. The firms’ mutual business relationship has spanned over 25 years, with a focus on cooperative development, production and marketing of shoulder-launched weapon systems in particular.
Talley makes the M72 LAW weapon that is being reintroduced into US service, and also makes the heavier Mk153 SMAW for the US Marine Corps. Talley has 220 employees, and 2005 revenue was $62.6 million. The Nammo Group has subsidiaries in Finland, Germany, Norway, Sweden, Switzerland and the USA, and DID has covered Finnish firm Patria Oyj’s buy-in to the group. In 2005, their revenues reached $240 million equivalent, with around 1,200 employees. With 25% of NAMMO’s sales already in North America (specialties include armor-piercing bullets and air-burst munitions), the Talley acquisition looks set to strengthen their US position, even as it fills in NAMMO’s artillery shell product range and more fully leverages its missile component capabilities via the shoulder-fired weapon sector.
Talley will continue as an independent entity in the Nammo Group. See NAMMO release.