Saab sells Saab Marine Electronics to Emerson
Emerson is acquiring 100% of Saab
Marine Electronics.
The sale is estimated to approximately 800 MSEK and will have a
positive effect on Saab’s net cash flow.
"The sale is fully in line with Saab’s strategy of realizing values for its shareholders from the commercial operations generated from military technology. This is also an important step for Saab Marine Electronics in their future development," says Bengt Halse, President and CEO.
Saab Marine Electronics products have been developed from a radar altimeter for missiles produced by Saab. Further development of the military technology resulted in a spin-off for the commercial market in the form of level-gauging systems for tankers. Saab Marine Electronics quickly gained a leading position in the international market and is now a leading company in radar-based level-gauging also for the oil and process industries.
"Joining the Fisher-Rosemount Group is an important step in our growth strategy," states Kurt Isaksson, President of Saab Marine Electronics.
The sales is subject to approval by the relevant merger control authorities.
Saab is northern Europe’s leading high technology company, mainly active in the defense, aviation and space industry, and offers advanced products and systems based on sophisticated information technology. The business areas within Saab are Infomatics, Aerospace, Dynamics, Technical Support and Services, Space and Aviation Services.
For further information,
please contact:
Kurt Isaksson, President, Saab Marine Electronics AB
phone: +46 31 3370 227
Gert Schyborger, Group Senior Vice President, Saab AB phone: +46
13 184050
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