Finland Adds to Stake as Valmet Automotive Moves Into Defense
Finland has increased its stake in Valmet Automotive, a contract manufacturer, as the company expands into the defense industry. The Finnish state acquired the stake previously held by the Chinese battery maker CATL. This move comes as Valmet Automotive, which has traditionally focused on the automotive industry, is now diversifying into the defense sector. The details of the transaction, including the value and the exact percentage of the stake acquired by the Finnish state, have not been disclosed. This strategic decision by Finland highlights the country's interest in strengthening its domestic defense capabilities and supporting the growth of its industrial base. The transition of Valmet Automotive into the defense industry is seen as a significant step in the company's diversification efforts and a potential opportunity for Finland to enhance its self-sufficiency in the military domain.
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