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.
