Saab Acquires Swedish Shipyard TKMS AB

By George Backwell
Sunday, June 29, 2014
TKMS Engineers: Photo credit Kockums

Defence and security company Saab says it has entered into an agreement with ThyssenKrupp Industrial Solutions AG regarding the acquisition of ThyssenKrupp Marine Systems AB (TKMS AB, formerly Kockums). The purchase price is MSEK 340. Saab explains that the acquisition is in line with its ambition to increase its capabilities in the naval domain, and further strengthens Saab’s status as a comprehensive supplier of military systems.

The purchase price is MSEK 340. Existing funds will be used to finance the acquisition. The transaction’s effect on Saab’s result for 2014 is estimated to be non-material. TKMS AB will be integrated into Saab’s business area Security and Defence Solutions.

“We are looking forward to welcoming Kockums and its personnel to Saab. This acquisition marks the start of a new era in Kockum’s notable history. The knowledge that the employees possess for developing and producing submarines is unique and strengthens all of Saab”, says Saab’s President and CEO Håkan Buskhe.

“Integration and development efforts will now begin to ensure that operations reach their full capacity. It is important to achieve synergies with Saab’s current naval business. This process must be allowed to take its course, but at the same time we begin deliveries of development, maintenance and production work to the Swedish market,” says Gunilla Fransson, Head of Business Area Security and Defence Solutions.

TKMS AB designs, builds and maintains naval systems such as submarines and surface vessels. Other successful products include air independent propulsion (AIP) systems based on Stirling technology, submarine rescue vehicles and mine counter measures systems. The company has approximately 900 employees and supplies systems and products to the navies of Sweden, Australia and Singapore.

During the financial year 2012/2013, TKMS AB reported sales of approximately SEK 1.7 billion (2011/2012: SEK 1.9 billion) and income from operations of approximately MSEK 34 (2011/2012: MSEK 13).

The transaction is subject to approval by the board and the supervisory bodies of ThyssenKrupp Group and the Swedish Competition Authority. These approvals are expected during July 2014 and thereafter the takeover of TKMS AB will be completed.

 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Major Ivorian Cocoa Buyers Boycott Local Exporters Scheme

Major cocoa buyers are boycotting a scheme in Ivory Coast aimed at guaranteeing local firms a share of the lucrative export market, arguing that these players lack

DSM Dyneema Names President’s Successor

Gerard de Reuver has elected to step down as President of DSM Dyneema on August 1, 2015 after five years in the post, the company announced today. He will be succeeded by Golnar Motahari Pour,

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

Contracts

Nautilus Awards Contract for Dewatering Plant Design

Nautilus Minerals Inc. has awarded a contract for the design of the Solwara 1 dewatering plant to be used on the company’s production support vessel to the Brisbane

CWind Supports Ballast Nedam at Butendiek OWF

CWind, a provider of integrated services to the wind industry, announced today that it is providing corrosion protection services to Ballast Nedam at Butendiek Offshore Wind Farm (OWF).

Sea Trucks Returns to the Gulf of Mexico

Offshore installation services provider Sea Trucks Group announced it has been awarded a charter contract for its accommodation construction vessel Jascon 31 to operate in the Gulf of Mexico,

Shipbuilding

Brazilian Police to Probe Nuclear Submarine Program

Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S.

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Eastern Launches Second MPSV for Hornbeck

Eastern Shipbuilding Group, Inc. has launched the second of two 302’x76’x26’ multipurpose service vessels in the HOSMPSV 310ES series for Hornbeck Offshore Services, LLC.

Finance

Major Ivorian Cocoa Buyers Boycott Local Exporters Scheme

Major cocoa buyers are boycotting a scheme in Ivory Coast aimed at guaranteeing local firms a share of the lucrative export market, arguing that these players lack

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Mergers & Acquisitions

Scorpio Tankers to Acquire Product Tanker

Scorpio Tankers Inc. announced today that it has entered into an agreement to purchase an MR product tanker. The Company reached an agreement with an unrelated

Navig8 Amessi joins the Delta8 Pool

Navig8 Chemicals is pleased to announce the delivery of Navig8 Amessi, the eleventh of eighteen ECO 37,000dwt chemical tankers constructed at Korea's Hyundai Mipo Dockyard ("HMD").

Continental Delivered to Dorian LPG

Dorian LPG Ltd. an owner and operator of modern Very Large Gas Carriers (VLGC), reported today that it took delivery of the ECO VLGC Continental from Hyundai Samho Heavy Industries.

Subsea Defense

Brazilian Police to Probe Nuclear Submarine Program

Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S.

Japan Seeks Australian Submarine Contract

Japan will send a high-level delegation to Adelaide for talks on building Australia's next-generation fleet of submarines.   A former commander of the Japanese

Wrecked 'Russian Submarine' Found in Swedish Waters

A wrecked mini-submarine was found last week in waters off of Sweden’s eastern coast.   Authorities believe it is a Russian model, primarily because of Cyrillic letters on the hull.

Underwater Engineering

Nautilus Awards Contract for Dewatering Plant Design

Nautilus Minerals Inc. has awarded a contract for the design of the Solwara 1 dewatering plant to be used on the company’s production support vessel to the Brisbane

New Load Measurement Solution for Port of Dampier

Strainstall designs and delivers a load measurement solution for the world’s largest floating wharf at Port of Dampier.   Strainstall, part of James Fisher and Sons plc,

IMCA Appoints Faure as President

Bruno Faure, Group Senior Vice President Subsea Projects and Operations at Technip  has taken over the role of President of the International Marine Contractors Association (IMCA),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2056 sec (5 req/sec)