Sweden Scandinavian Astor Group purchases ammunity / day of ammunition manufacturers

SAG has purchased 100% of Ammunity. So far, the company has owned Viktor Juris Ozols (51%), Juris Užulis (30%) and Davis Vilis Ozols (19%).

Ammunity board member Beata Krauze-Chebotare told LETA that the purchase transaction would not be disclosed.

Support for Ammunity’s investor attraction has been provided by the Latvian Ministry of Defense.

Krauze-Chebotare points out that the partnership will allow Ammunity to expand production, invest in innovation and strengthen Latvia’s role in the European Defense Industry.

Matisas Hjort, CEO of SAG, points out that the company is making a greater contribution to NATO’s deterrence with the acquisition of Ammunity.

« By producing ammunition in Northern Europe, we become a better and more diverse supplier that can provide more and more components of our customers’ battle capabilities for growth, » Hjort emphasizes.

Defense Minister Andris Sprūds (P) points out that investments in this level in Latvian defense companies are proof of the competitiveness and potential of the industry.

Sprud mentions that Ammunity’s strategic partnership will enhance Latvia’s ability to ensure high quality ammunition accessibility for both national and allies.

The transaction will be completed after all the necessary permits and approvals of the competent authorities will be received, the company states.

The Ammunity plant is located in Bauska County, and the company supplied to the Sagittarius ammunition for the National Armed Forces (NAF).

Firmas.lv information shows that Ammunity in 2024 had a turnover of EUR 9.33 million, which is 80.6% more than a year ago, but the company’s profit was EUR 1,399 million as opposed to losses a year earlier. Ammunity was registered in 2014 and the company’s share capital is 2,800 euros.