Saab to acquire submarine building business
Saab is making moves to develop the capability to build submarines with an initial agreement for the acquisition of Swedish shipyard ThyssenKrupp Marine Systems AB.
The company has signed a memorandum of understanding with ThyssenKrupp Industrial Solutions for the purchase of the shipyard. This move will enable Saab, already providing products such as ship-control management and electronic warfare systems for submarines, to build underwater vessels.
ThyssenKrupp Marine Systems AB, previously named Kockums, is part of ThyssenKrupp Marine Systems (TKMS), which was formed of the merger between Howaldtswerke-Deutsche Werft (HDW) GmbH and Blohm+Voss Naval GmbH in 2013.
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