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Business/Financial

Saab Nears Completion Of ThyssenKrupp Marine Acquisition

By Cal Biesecker

Tuesday, July 1st, 2014

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Saab Nears Completion Of ThyssenKrupp Marine Acquisition

HMS Karlstad Visby Class Corvette built by ThyssenKrupp Marine. Photo: Kockums

Sweden’s Saab on Monday said it has formally agreed to acquire shipbuilder ThyssenKrupp Marine Systems AB for $50.8 million, expanding its presence in naval ships and systems. Saab acquired the Swedish shipyard, which was previously known as Kockums, from ThyssenKrupp Industrial Solutions. The two companies in April signed a non-binding memorandum of understanding for the acquisition. Saab said the deal, which is expected to close this month, will be immaterial to its 2014 financial results. ThyssenKrupp Marine, which has about…

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