Saab Wraps Up TKMS AB Acquisition
Swedish defence and security company Saab has entered into an agreement with ThyssenKrupp Industrial Solutions AG regarding the acquisition of ThyssenKrupp Marine Systems AB (TKMS AB, formerly Kockums), for a purchase price of $50.45m.
In April 2014, Saab and ThyssenKrupp Industrial Solutions AG signed a non-binding Memorandum of Understanding regarding the acquisition of the Swedish shipyard TKMS AB with operations based in Karlskrona, Malmö and Muskö, Sweden.
TKMS AB will be integrated into Saab’s business area Security and Defence Solutions.
“Integration and development efforts will now begin to ensure that operations reach their full capacity.
It is important to achieve synergies with Saab’s current naval business.
This process must be allowed to take its course, but at the same time we begin deliveries of development, maintenance and production work to the Swedish market,” said Gunilla Fransson, Head of Business Area Security and Defence Solutions at Saab.
TKMS AB designs, builds and maintains naval systems such as submarines and surface vessels.
Other products include air independent propulsion (AIP) systems based on Stirling technology, submarine rescue vehicles and mine countermeasures systems.
Press Release, June 30th, 2014