Saab Marine Electronics News

Saab Marine Electronics has formed a new group of companies in order to supply the marine market with a total concept for modern applications. During a short period of time Saab Marine Electronics has acquired the share holding majority in three companies with complementary high performance equipment within ship automation, tank cleaning and ballast and bunker tank monitoring. At the same time, Saab Marine Electronics has established marine sales and service companies in Singapore, Dubai, Russia and the U.K.

The SMM exhibition in Hamburg has once again proven that it is the cradle of marine technology and the grand-daddy of all marine exhibitions. On display in 12 separate halls were more than 1,300 exhibitors from more than 50 countries, launching new products and discussing business with an estimated 37,000 visitors. More telling that sheer numbers, in this case, is the feeling of the exhibition and the ubiquitous marine technology theme. The quality of attendee and exhibitor is always high, but this edition of the bi-annual exhibition seemed especially charged due to the many positives currently running throughout the full spectrum of the maritime market.

Sweden's Saab sold its Marine Electronics unit to U.S. electric equipment maker Emerson Electric Co. for $85.5 million. The price corresponded to 1.6 times the unit's 1999 turnover. "The deal would have a positive effect on Saab's net cash flow", Saab said in a statement. The disposal was part of Saab's strategy of realizing value for shareholders from the commercial operations of the group's military technology, it said. Saab's marine electronics unit is a world leader in radar equipment that measures tank levels. The unit's products are sold to customers in the shipping and oil industries.