Meriaura Group Oyj: Summa Defence's subsidiary Uudenkaupungin Työvene receives over 20 million euro vessel order from Sweden
Meriaura Group Plc
Company Announcement 26 February 2025 at 9.00 a.m. (CET)
Summa Defence's subsidiary Uudenkaupungin Työvene receives over 20 million euro vessel order from Sweden
Defense and security technology group Summa Defence's target company Uudenkaupungin Työvene has signed a contract to build two battery-hybrid passenger vessels for Swedish shipping company Torghatten AB.
The vessels will operate on Sweden's west coast between Strömstad and the Koster islands. The vessels will be based on Multi Maritime AS design.
The total contract value exceeds 20 million euros.
"Our target companies' order backlog is already 200 million euros, and this order further strengthens it. Our target companies possess tremendous expertise and potential, and together with Summa Defence, operations and production can be scaled up significantly," states Jussi Holopainen, CEO of Summa Defence.
The target companies of Summa Defence include Lännen Tractors, Aquamec, Uudenkaupungin Työvene, IntLog and Lightspace Technologies. These companies are expected to become subsidiaries of Summa Defence Group tentatively in April 2025 in the execution of the share exchange transactions announced on January 29, 2025.
Meriaura Group Plc and Summa Defence Oy to merge with a share exchange
On 29 January 2025, Meriaura Group Plc signed a conditional share exchange agreement to acquire the entire share capital of Summa Defence Oy, which brings together defence and security companies. The transaction will create a strong group of companies focusing on safety and security of supply in Finland, in which dual-use technology will play a significant role. In connection with the arrangement, the Marine Logistics business (Meriaura Oy and its wholly owned subsidiary VG-EcoFuel Oy) will be sold to Meriaura Invest Oy. The name of the new listed company will be Summa Defence Plc. The holding of Meriaura Group’s current shareholders in the new group of companies will be 11.9%, and that of Summa Defence’s shareholders will be 88.1%.
Meriaura Group’s company release about the conditional share exchange agreement can be found at:
/meriaura-group-oyj-inside-information-meriaura-group-plc-and-summa-defence-oy-to-merge-into-a-new-group-of-companies-in-the-defence-sector/
MERIAURA GROUP PLC
Further information:
Meriaura Group Plc
CEO Jussi Mälkiä
Phone: +358 40 078 5489
Email:
Summa Defence Oy
CEO Jussi Holopainen
Phone: +358 44 517 4543
Email:
Meriaura Group in brief
Meriaura Group has two business areas: Marine Logistics and Renewable Energy.
Marine Logistics business is carried out by Meriaura Ltd, which is a major provider of transport for bulk cargo and demanding project deliveries in Northern Europe, especially in the Baltic Sea and North Sea regions. The company provides its customers with competitive and low-emission marine transport services, based on long-term affreightment agreements, modern fleet, and active development of its operational sustainability. In addition, Meriaura has a strong market position in the marine logistics in renewable energy construction projects.
The Marine Logistics business also includes VG-EcoFuel Ltd which produces biofuels from bio-oils and recycled oils generated as industrial by-products.
The Renewable Energy business focuses on comprehensive clean energy systems. Meriaura Energy Ltd designs and delivers clean energy production systems as comprehensive deliveries for industrial use and district heating. The energy production is based on large-scale solar thermal systems implemented using high-performance solar thermal collectors manufactured by the company. The Renewable Energy business also includes Rasol Ltd, specialised in delivering high-quality solar power systems for real estates, companies and solar parks.
Meriaura Group’s share is listed on Nasdaq First North Growth Market Sweden as MERIS and on Nasdaq First North Growth Market Finland as MERIH.
The Company’s Certified Adviser is Augment Partners AB, , tel. .
