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Monday, March 24, 2014

Dispute Threatens ThyssenKrupp's Submarine Business

Kockums A26 class SSKA dispute between the Swedish armed forces and ThyssenKrupp AG threatens one of the German industrial giant's most-profitable operations and could shake up the growing global submarine business.

The row, which is partly over export possibilities, has prompted Sweden to yank contracts for the next generation of Swedish submarines from ThyssenKrupp, the world's largest exporter of nonnuclear submarines.

Sweden has signaled that it instead is considering giving the work to Swedish defense company Saab AB. Currently, Saab doesn't build manned submarines, but it acknowledges it is trying to poach engineers from ThyssenKrupp's submarine unit, which is based around a Swedish company that ThyssenKrupp acquired in 2005.

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