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Tuesday, April 15, 2014

ThyssenKrupp in talks to sell Swedish shipyard business to Saab

ThyssenKrupp MarineThyssenKrupp has signed a memorandum of understanding to sell its shipyard business in Sweden to defence firm Saab after the Swedish government made it clear it would not buy new submarines from the German conglomerate.

Saab said in a statement on Monday negotiations between the two companies were at an early stage and more information would follow.

Saab said the deal was in line with its ambition to expand its naval activities and help Sweden meet its needs for the design, production and maintenance of submarines and warships.

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