Simrad Optronics invests in Argentinean defence company

Simrad Optronics ASA, the Norwegian defence products company, announced today that it has taken a 30% stake in Argentinean defence contractor Nostromo Defensa.

Simrad Optronics ASA, the Norwegian defence products company, announced today that it has taken a 30% stake in Argentinean defence contractor Nostromo Defensa.
 
The Argentinean company manufactures advanced small and medium sized unmanned aircrafts for reconnaissance and surveillance purposes. Nostroma Defensa currently supplies the armed forces and law enforcement agencies of Argentina, Egypt and the United States with such aircrafts.
 
The Nostromo aircrafts can be equipped with Simrad Optronics' sophisticated electro optical products.
 
"The cooperation with Nostromo Defensa opens new and exciting market opportunities for Simrad Optronics. The Argentinean company will work closely with our US subsidiary, which starts manufacturing in October," said Simrad Optronics' CEO, Jon Asbjørn Bø.
 
Nostromo Defensa is at an early stage in its development and Simrad Optronics' intention is to be an active partner going forward. Simrad Optronics' investment in Nostromo Defensa amounts to NOK 2 million. 
 
For further information, please call Jon Asbjørn Bø, CEO, telephone +47 9308 6932.
 
Simrad Optronics ASA (Oslo Stock Exchange: SIT) is a leading provider of defence products based on electro optics and advanced mechanics. The company co-operates closely with the research units of the Norwegian Armed Forces and with users of military equipment. A number of the company's products are world leaders in their respective fields. The company is internationally oriented with sales to more than 40 countries.

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