Saab Completes Acquisition of Submarine Builder
July 22 2014 - 6:40AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish defense company Saab AB (SAAB-B.SK) said
Tuesday it has completed its acquisition of Swedish shipyard
Thyssen Krupp Marine Systems AB (TKMS AB formerly Kockums).
The business unit will be called Saab Kockums and it expects
operations will continue to be carried out primarily in Malmo,
Karlskrona and Musko.
TKMS designs, builds and maintains naval systems such as
submarines and surface vessels.
The cost of the acquisition, which is financed by existing
funds, amounted to SEK340 million. The impact of the transaction on
Saab's results for 2014 is not considered to be significant.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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