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Thursday, April 03, 2014

German-Swedish submarine war rages on

Saab groupIt’s a war without a shot being fired, not fought on the high seas, but in the corporate boardrooms of two defense contractors.

On the one side is Sweden’s SaabGroup, a defense contractor looking to establish a submarine-building unit. On the other side is Germany’s ThyssenKrupp, trying to dominate northern Europe's submarine-building industry.

In the most recent development, the Swedes have been luring ThyssenKrupp employees to their side, prompting the Germans to offer them a bonus equal to a month’s salary to stay, according to an article in the Sweden edition of The Local.

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