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Article: Austria: Saab Divests Saab Space to Swiss Aerospace and Defence group RUAG.
- Article from:
- TendersInfo
- Article date:
- July 17, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: mohammed05
Saab AB divests 100 percent of the shares in Saab Space AB including its subsidiary Austrian Aerospace to the Swiss company RUAG Holding AG. The divestment requires approval of competition authorities before completion.
As early as in November 2007, Saab concluded that there were reasons to consider a sale. Saab Space is well managed and profitable, but we have not been able to reach sufficient synergies with other operations within Saab and as a result not the desired possibilities of growth and profit. It was considered to be a good time to act since a consolidation process in the European space industry is ongoing.
At Saab ...