Saab completes acquisition of TKMS (Kockums)
[Johannesburg, 23 July 2014] -
Defence and security company Saab's acquisition of the Swedish shipyard Thyssen Krupp Marine Systems (TKMS, formerly Kockums) has now been completed. The acquisition strengthens Saab's position as a comprehensive supplier of naval military systems.The required decisions and approvals for Saab's acquisition of TKMS have now been granted. The company will become a business unit within Saab's business area Security and Defence Solutions. The business unit is named Saab Kockums. Saab expects operations will continue to be carried out primarily in Malmö, Karlskrona and Muskö.In June, Saab and FMV signed a letter of intent regarding the Swedish armed forces' underwater capabilities. With the acquisition of TKMS, Saab, together with the Swedish authority, is able to ensure access to the existing knowledge and intellectual properties (IPR) necessary for continued development, production and maintenance in the underwater sector, for both the Swedish and the international markets.