Summa Defence Oyj: Summa Defence has entered into a letter of intent to acquire carbon fiber technology expertise and add shipbuilding capacity from Norway

Summa Defence Plc
Press release 26 August 2025 at 3:30 pm EEST

Summa Defence Plc has entered into a letter of intent with Brødrene Aa Eiendom AS to restart the operations of the Brødrene Aa shipyard in Hyen, Norway.

The Brødrene Aa shipyard, a well renowned yard for the construction of high speed passenger ferries built in carbon fiber went bankrupt earlier this year after the cancellation of 3 ferries which were under construction at the yard. The parties are planning to establish the new company and restart the operations by the end of September by gradually bringing onboard former employees to complete the existing projects at the yard and generate new business.

"We see great opportunities in acquiring the majority of the shares in the new company which will bring carbon fiber technology expertise to the group in addition to the already existing capabilities in aluminum and steel. This will strengthen our position in the shipbuilding market and increase the potential within the defence shipbuilding. Summa Defence already owns two shipyards in Finland and the synergies between Brødrene Aa and these shipyards will be important", says Summa Defence Plc's CEO Jussi Holopainen.

"We are happy to find a serious industrial investor in Summa Defence. Summa Defence together with its shipyards will bring capital and competence into the new operations and will strengthen the capabilities of the yard", states Gustav Johan Nydal, representative of Brødrene Aa Eiendom.

The well-known design and engineering company Paradis Nautica would also be part of the acquisition, strengthening Summa Group's design and engineering capabilities.

SUMMA DEFENCE PLC

More information:
Jussi Holopainen, CEO
Phone: [phone]
Email: [e-mail]

Media contact:
Tommi Manninen, Chief Communications Officer
Phone: [phone]
Email: [e-mail]

Summa Defence in brief

Summa Defence Plc is a Finnish defense and security technology group supporting industry growth and strengthening industrial production capacity amid geopolitical change. Summa Defence focuses on dual-use technologies related to security of supply, situational awareness, mobility, and defense, which benefit the civilian, security, and defense sectors while strengthening comprehensive security, security of supply, and crisis management capabilities.

The shares of Summa Defence Plc are listed on the Nasdaq First North Growth Market in Sweden (SUMMAS) and Finland (SUMMA). www.summadefence.fi/en/

The Company's Certified Adviser is Augment Partners AB, [e-mail], tel. [phone].