Seeking Alpha

Saab buys submarine builder ThyssenKrupp Marine

  • Saab (SAABF) agrees to acquire ThyssenKrupp's (TYEKY, TYEKF) Swedish marine defense unit for 340M kroner ($50.5M), expanding its business to manufacturing submarines and stealth technology corvettes.
  • Saab and ThyssenKrupp have been in talks since April over the purchase, after the Swedish government said it wanted to ensure that it had domestic submarine-production capability.
  • Saab hasn't built manned submarines, although it has other naval activities, including production of unmanned underwater vehicles.
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