Marine Link
Wednesday, September 28, 2016

Saab Sells Marine Electronics Business To Emerson

January 15, 2001

Sweden's Saab sold its Marine Electronics unit to U.S. electric equipment maker Emerson Electric Co. (EMR) 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.


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