“For Saab Singapore this means that we will welcome the former TKMS AB employees here in Singapore to the family,” says Andes Dahl, Head of Saab Singapore.
Former TKMS AB, now Saab Kockums, will become a business unit within Saab's business area Security and Defence Solutions. Saab expects that operations will continue to be carried out in Singapore, besides the primary sites in Malmö, Karlskrona and Muskö. Saab flags were raised outside the Karlskrona shipyard and the Saab Kockums office in Malmö, Sweden to mark the acquisition.
"The acquisition is in line with our strategy to expand our offering and strengthen Saab's position in the market for naval systems. Kockums has a unique offering and a strong local presence in Sweden concerning submarines and warships. The acquisition makes us a complete supplier of naval military systems. We also see good potential to expand the company's current market position through opportunities in the export market," says Håkan Buskhe, President and CEO of Saab.
The cost of the acquisition, which is financed by existing funds, amounted to MSEK 340. The impact of the transaction on Saab's results for 2014 is not considered to be significant.