Jun. 30, 2014, 11:55 AM
- 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.
Apr. 14, 2014, 9:11 AM
- 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.
SAABF vs. ETF Alternatives
Currently, there's no company description for SAABF.
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