On behalf of Nammo LIAB AB, the Swedish Defence Research Agency has performed an environmental risk assessment of the industrial site at Hermanstorp 7:1, Lindesberg. It was performed in accordance with the Swedish EPA method MIFO and consisted of two phases. In a previous Phase 1, eight objects were identified as requiring further investigation. The present investigation consists of a Phase 2 study of the above mentioned objects. The risk assessment was based on the results from the soil and water analyses. Three objects were classified as Risk Level 2, namely the combustion area (Object 3), the fire rescue pond )Object 4) and a distruction site (Object 8), since they showed fairly high levels of either heavy metals or explosives. The report suggests how to take further actions. The remaining objects were classified as Risk Level 3, i.e. requiring no further actions.