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

People & Company News

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Contracts

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Viking Bags Charter Deal for AHTS Brage Viking

Viking Supply Ships has entered into a contract with an Oil major for the charter of “Brage Viking” commencing 1stof April 2015. The duration is for 2 years and 8 months firm,

UK North Sea Workers Give "Overwhelming" Support for Strike

Trade unions Unite and GMB said members working offshore in Britain's North Sea oil and gas industry had shown overwhelming support for industrial action in a consultative

Shipbuilding

First Supramax Vessel for Japan-Italy Venture

'DACC Tirreno' was delivered at the Oshima shipyard in Japan yesterday, the first of four Supramax bulk carriers for the dACC Maritime Limited fleet, the joint

Austal Graduates 48 4-Yr Apprentices

Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R.

BAE Systems to Expand San Diego Shipyard

BAE Systems announced it will invest approximately $100 million to expand drydocking capabilities at its San Diego shipyard.   The investment, which will include

Finance

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Mergers & Acquisitions

CSIC, CSSC Dismiss Shipbuilder Merger Rumors

China's state-backed shipbuilding giants said they have not received any merger-related information from authorities, after an executive swap between the firms sparked a market rally in their shares.

Swire Pacific Offshore Acquires 2 Newbuildings

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming of two new vessels, Pacific Centurion, an Anchor Handling Tug Supply (AHTS) vessel,

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Subsea Defense

Indonesia Partners with China on Maritime

Indonesian President Joko “Jokowi” Widodo and Chinese President Xi Jinping pledged increased maritime cooperation during the formers visit to China.   The joint

Japan's Navy Unveils De-Facto Aircraft Carrier

Japan's Maritime Self Defense Force (JMSDF) took delivery of its biggest warship Izumo, since World War II, a vessel that observers say is a "de-facto aircraft carrier".

Thailand Eyes Submarine Fleet

Royal Thai Navy (RTN)'s plan to buy submarines is on again with strong backing from Defence Minister Prawit Wongsuwon who wants Thailand’s fleet to be on par with neighbouring countries.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.3944 sec (3 req/sec)