Patria is set to acquire the remaining 30% stake held by UNITRUCK in Defence Partnership Latvia (DPL), giving the Finnish defence and technology company full ownership of the Latvian joint venture. DPL is currently owned by Patria Latvia, which holds a 70% stake, and Latvian company UNITRUCK, which owns the remaining 30%. The transaction marks the next phase in DPL’s development and will allow Patria to strengthen its direct presence in Latvia’s defence industry.
The ownership change will not affect DPL’s day-to-day operations, employees, ongoing projects or existing relationships with customers and partners in Latvia. The company will continue its activities in the country and support defence industry cooperation and capability development.
Jussi Järvinen, Executive Vice President of Patria’s Protected Mobility business area, said the company values the partnership established with UNITRUCK and remains committed to maintaining continuity and supporting DPL’s further development. “As a long-term partner, we highly value the cooperation with UNITRUCK and the strong foundation built together at DPL. We remain fully committed to ensuring continuity, stability, and further development of DPL’s operations in Latvia,” Mr Järvinen said.
UNITRUCK has been involved in establishing and developing DPL alongside Patria. Following the completion of the transaction, the company will focus on expanding its own activities in the defence industry. Normunds Driļevskis, owner of UNITRUCK, said the company was proud of its contribution to DPL’s development and remained confident about the venture’s future under Patria’s full ownership.
“UNITRUCK is proud of what has been achieved together with DPL and Patria. Having completed our mission, we are now focusing on developing our own defence industry activities, while confident that DPL will continue to grow and succeed under Patria’s full ownership,” Mr Driļevskis said.
The transaction reflects the changing strategic priorities of the two shareholders while maintaining continuity for DPL’s business and stakeholders. Following the completion of the deal, Patria will have full ownership of the company and responsibility for its continued development in Latvia.
Patria is an international defence and technology company with more than 100 years of experience. Its operations cover Protected Mobility, Defence and Weapon Systems and Sustainment Solutions, serving customers across land, sea and air domains. Patria operates in Finland, Sweden, Norway, Latvia, Belgium, the Netherlands, Germany, Poland, Slovakia and Japan. The company is owned by the State of Finland, with a 50.1% stake, and Kongsberg Defence & Aerospace, which owns 49.9%. Patria also owns 50% of Nammo.
