Saab sells shares in spin-off companies
Saab is selling part of its shares in five early stage spin-off companies; Efield AB, Minesto AB, MX Composites AB, Saab Vidingsjö and WRAP International AB to Verdane Capital to a purchase-sum of SEK 46m. The profit amounts to approximately SEK 39m of which SEK 33m has an impact on the profit in 2007 and SEK 6m in 2008.
The sale is a part of Saab Ventures’ operations which is divided in two parts. The first part is investments in external small and fast moving entrepreneurial companies that have the potential to become a future core business and the second part is spin off of companies based on Saab state of the art technology, but with markets outside of Saab’s core business. Saab Ventures has spun off 12 companies during the last 7 years and invested in 4 external companies during the last 18 months.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers´ changing needs.
For further information, please contact:
Håkan Rosén, Head of Saab Ventures
Tel: +46 (0)13 181 660, +46 (0)734 181 660
Göran Wedholm, Manager Investor Relations
Tel: + 46 (0)13 187 121, +46 (0)734 187 121
www.saabgroup.com