Saab in talks to buy ThyssenKrupp's Swedish shipyard

|About: Saab AB (SAABF)|By:, SA News Editor

Saab (SAABF) says it is in preliminary talks to buy ThyssenKrupp's (TYEKY, TYEKF) Swedish shipyard, underscoring its bid to become a serious player in the submarine and naval ships business.

Neither company discloses the potential value of the deal, saying negotiations are at an early stage; ThyssenKrupp Marine Systems, formerly known Kockums, had a total revenue of 1.68B Swedish kroner ($256M) in 2013.

Saab, unaffiliated with the car company with the same name, is best known for building fighter jets and other defense systems.