Financial support from the Norwegian authorities and EU's ASAP program contributes toKongsberg Defence & Aerospace (KONGSBERG ) investing in more thanNOK 640 million to increase their missile production capacity. The security policy situation inEurope has increased the need to ensure the availability and supply of ammunition and missiles. Last year, the European commission launched the ASAP program (Act in Support of Ammunition Production) to support the industry's capability to increase the production capacity for ammunition and missiles. During the last years,KONGSBERG has implemented several measures to increase the production capacity, such as the investment of a new missile factory in the city ofKongsberg , opening this summer. Now the capacity increases further - with the support from EU andNorway .KONGSBERG's investment includes equipment and machines to increase the capacity in the new missile factory, as well as a new facility to increase the production capacity for sensor components. In addition, there will be investments in the supply chain in order to ensure future supplies.KONGSBERG plans to invest a total ofNOK 640 million , of which the Norwegian authorities contributes withNOK 200 million and EU contributes withEUR 10 million . "The support from the Norwegian and European authorities contributes to our ability to implement concrete measures to further strengthenKONGSBERG's missile production capacity, reduce lead times and enhance the supply chain," saysEirik Lie , President ofKongsberg Defence & Aerospace . The Naval Strike Missile (NSM) is currently used by 14 nations, of which 11 are fromNATO or the EU. These new investments will strengthen the already close collaboration on the NSM production across the European borders, by further developing an even more resilient missile ecosystem, to ensure supply and preparedness.KONGSBERG (OSE ticker: KOG) is an international, knowledge-based group that supplies high-technology systems and solutions to customers in a wide range of markets such as defence, security, maritime, energy, aerospace, climate mapping and subsea technology.KONGSBERG has more than 13,500 employees in 39 countries and has a total turnover ofNOK 40.6 billion in 2023. Følg oss på: kongsberg.com, Facebook, Twitter og LinkedIn
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