Saab Acquires ThyssenKrupp Marine Systems AB
Defence and security company Saab has today 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. This acquisition is in line with Saab’s ambition to increase its capabilities in the naval domain. This move further strengthens Saab’s status as a comprehensive supplier of military systems. In April 2014, Saab and ThyssenKrupp Industrial Solutions AG signed a non-binding Memorandum of Understanding regarding the acquisition of the Swedish shipyard TKMS AB with operations based in Karlskrona, Malmö and Muskö, Sweden. The parties have now agreed that Saab will acquire TKMS AB. The purchase price is MSEK 340.
Saab Acquires Swedish Shipyard TKMS AB
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.
GE Gas Turbine Powers German Navy Frigate
GE Marine reports that the German Navy’s Baden-Württemberg(F125-class) frigatewas christened in December 2013, powered by a GE LM2500 gas turbine-based propulsion system. The christening ceremony was held at ThyssenKrupp Marine Systems in Hamburg, Germany. According Dr. MTU Friedrichshafen, a GE Marine System Supplier, provided the ship’s propulsion module, which includes one LM2500 gas turbine, two electric motors and four diesel generator-sets in a combined diesel-electric and gas turbine (CODLAG) propulsion arrangement.
