Saab Ericsson Space acquires majority interest in Fokker Space
Saab Ericsson Space, headquartered in Göteborg, Sweden will acquire 65% of the leading Dutch space company Fokker Space. Stork, the major aerospace industry in the Netherlands, will acquire the remaining part of the shares. Fokker Space is a prime supplier of solar arrays, is also a specialist in advanced robotics technology and is prime contractor of the European Robotic Arm. The company’s expertise in "light-rigid" and strong structural components has led to close involvement in the Ariane launcher development and production program. Fokker Space has 400 employees and Euro 100 million in annual sales.
Bengt Halse, President and CEO of Saab AB:
"The acquisition reinforces the position of Saab Ericsson Space as a world-leading supplier of aerospace equipment. Saab AB shall grow organically or through acquisitions. This philosophy is in accordance with Saab’s general market strategy".
The parties have today signed the Letter of Intent and after a due diligence and subject to approval by relevant competition authorities the transaction will be closed in the beginning of next year.
This move further strengthens Saab Ericsson Space competitiveness on the international space market. The build up of an independent strong network of subsystem suppliers started successfully some years ago with the acquisition of the two leading Austrian space companies, today reorganised into Austrian Aerospace. The acquisition of Fokker Space is a continuation of this strategy.
Bengt Mörtberg, President and CEO of Saab Ericsson Space: " With the acquisition of Fokker Space we are strengthening the company’s product portfolio by adding new strong niche products and we will now become an even more attractive partner. We've been working with Fokker Space for many years and the skills and business-like approach we’ve seen impress us. Our corporate cultures also fit very nicely together. Now we're taking a new step and entering as a majority owner. Saab Ericsson Space together with Austrian Aerospace and Fokker Space will work closely in terms of product development, purchasing and marketing. This new acquisition is also a logical step in the restructuring process that is needed in the European space industry, also at suppliers level".
Hans Berends van Loenen, Group Director of Stork Aerospace:" For Stork, the shareholding in Fokker Space means a strengthening of the synergy between aviation and aerospace technologies in general, and a strengthening of the space activities in particular. The technological innovation in space is very significant for the aviation and defence industries".
Fokker Space will, as a consequence of the acquisition, change its name to Dutch Space Industry BV (DSI). Mr Pieter G. Winters continues as President and CEO and will also be appointed Senior Vice President of Saab Ericsson Space.
Saab Ericsson Space Group, an independent supplier of space equipment, is jointly owned by the two listed Swedish companies Saab, active in defence and aerospace, and the telecom group Ericsson. The company’s main products are, after the acquisition of Fokker Space, digital and microwave products, mechanical systems, thermal hardware, structures, solar arrays and advanced robotics technology for launch vehicles, satellites and other spacecraft. The headquarters are located in Göteborg, Sweden, and there are subsidiaries in Austria, the Netherlands and the USA. Saab Ericsson Space employs 1 000 people.
Saab is northern Europe's leading high technology company, mainly active in the defence, 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:
Iréne Svensson, Communications
Director, phone: +46 31 735 44 63
Saab Ericsson Space mobil: +46 705 35 08 18
Fief van Drumpt, Communications Manager, phone +31 71 52 45 135
Fokker Space
Dick Kors, Comuunications Manager, Stork NV mobile: +31 65 19 84
054
Information also available on www.space.se
This information was brought to you by BIT http://www.bit.se
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