Key Developments: Saab AB (SAABb.ST)

SAABb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Saab completes acquisition of TKMS AB (Kockums)
Tuesday, 22 Jul 2014 06:00am EDT 

Saab AB:Defence and security company Saab's acquisition of Swedish shipyard Thyssen Krupp Marine Systems AB (TKMS AB formerly Kockums) has now been completed.Acquisition strengthens Saab's position as a comprehensive supplier of naval military systems.Required decisions and approvals for Saab's acquisition of Thyssen Krupp Marine Systems AB (TKMS AB) have now been granted.Says it will become business unit within Saab's business area Security and Defence Solutions.Business unit is named Saab Kockums. Saab expects that operations will continue to be carried out primarily in Malmö, Karlskrona and Muskö.In June, Saab and FMV signed a Letter of Intent regarding Swedish armed forces' underwater capabilities.With the acquisition of TKMS AB, Saab, together with Swedish authority, is able to ensure access to existing knowledge and intellectual properties (IPR) necessary for continued development, production and maintenance in underwater sector for both Swedish and the international markets.Cost of acquisition, which is financed by existing funds, amounted to MSEK 340.Impact of transaction on Saab's results for 2014 is not considered to be significant.  Full Article

Saab AB comments on FY 2014 outlook
Friday, 18 Jul 2014 01:30am EDT 

Saab AB:In FY 2014, Saab estimates that sales will be in line with 2013.Says the operating margin in FY 2014, excluding material non-recurring items, is expected to be somewhat higher than the operating margin in 2013, excluding material non-recurring items.Says excluding material non-recurring items, the operating margin was 6.6 percent in 2013.FY 2014 revenues at 24,126 mln euros (2013: 23,750 mln euros)-Thomson Reuters I/B/E/S.  Full Article

Saab to deploy Surface Movement Radars at Singapore Changi Airport
Monday, 14 Jul 2014 03:35am EDT 

Saab AB:To deploy two Surface Movement Radars (SMR) and provide related services at Singapore Changi Airport.Program to entail deployment of two SMRs, one as replacement of existing SMR and one additional SMR.Saab to manage necessary infrastructure works, and provide installation services, configuration and tuning, commissioning and extended control and monitoring system as well as training.  Full Article

Saab AB signs with ETPS new multi-year agreement for continued Gripen training
Saturday, 12 Jul 2014 07:33am EDT 

Saab AB:Says it signed with Empire Test Pilots' School (ETPS) a new, multi-year framework agreement for the provision and use of Gripen D fast-jet aircraft and associated requirements.The agreement is for the ETPS fixed-wing European Aviation Safety Agency (EASA) compliant Test Pilot and Flight Test Engineer courses.The original agreement has been in place since 1999 and, under the terms of the new framework, Saab will support ETPS from 2015 until 2018.Ongoing Gripen activity for 2014 is already covered by the existing agreement between the two organizations.  Full Article

Embraer to partner with Saab in joint programme management for Brazil's F-X2 Project
Friday, 11 Jul 2014 06:00am EDT 

Saab AB:Embraer and Saab have signed memorandum of understanding to partner in joint programme management for F-X2 Project, pursuant to the selection of the Gripen NG as Brazil's next generation fighter jet.Under this agreement, Embraer will perform role in overall programme performance as well as undertake an extensive share of work in the production and delivery of both the single and two-seat versions of state-of-the-art Gripen NG aircraft for Brazilian Air Force.Embraer will coordinate all development and production activities in Brazil on behalf of Saab and, in addition to its own extensive work packages, will participate in systems development, integration, flight tests, final assembly and deliveries.Furthermore, Embraer and Saab will be jointly responsible for the complete development of the two-seat version of the Gripen NG, at same time that strategic partnership for future global promotion and marketing of both single and two-seat versions is being discussed between the two companies.  Full Article

Saab AB and EDA sign framework agreement
Wednesday, 9 Jul 2014 08:00am EDT 

Saab AB and European Defence Agency:Signed framework agreement for potential orders of Carl-Gustaf ammunition to Estonia, Latvia, Lithuania, the Czech Republic and Poland.Agreement will last five years and includes possible renewal of two more years.Agreement includes potential orders of about MSEK 460.European Defence Agency (EDA) acts as central purchasing body, taking role in procurement procedure for Carl-Gustaf ammunition to Estonia, Latvia, Lithuania, the Czech Republic, and Poland.Agreement aims to co-ordinate purchase of Carl-Gustaf ammunition between several member countries to meet their demand due to commonalities in ammunition.  Full Article

Saab AB receives additional training contract for U.S. Army
Tuesday, 8 Jul 2014 09:30am EDT 

Saab AB:Receives $10.9 mln Training Systems order by U.S. Army for radio systems to improve communication capabilities during live training exercises.Saab Defense and Security USA (SDAS) has received additional order for Live Training Transformation Interim Range System (LT2-IRS) contract by U.S. Army Program Executive Office of Simulation, Training and Instrumentation (PEO STRI).Current contract is valued at 10.9 MUSD for ranges at Fort Lewis-McChord and Grafenwoeh.Under the LT2-IRS contract, SDAS is fielding communication network systems for a total value of up to 67 MUSD to enable soldiers to engage in instrumented force on force training at the home stations.The order value will be consolidated within the business area Security and Defence Solutions of Saab AB.  Full Article

Saab AB acquires ThyssenKrupp Marine Systems AB
Sunday, 29 Jun 2014 04:00pm EDT 

Saab AB:Says it has entered into an agreement with ThyssenKrupp Industrial Solutions AG regarding the acquisition of ThyssenKrupp Marine Systems AB (TKMS AB, formerly Kockums).Says the purchase price is 340 million Swedish crowns.Says this acquisition is in line with Saab’s ambition to increase its capabilities in the naval domain and strengthens Saab’s status as a supplier of military systems.  Full Article

Saab to provide maintenance support for Southern Queensland Correctional Centre
Thursday, 26 Jun 2014 08:00pm EDT 

Saab AB:To provide the planned and corrective maintenance and capital expenditure works for electronic security system for a 300 bed Southern Queensland Correctional Centre.Contract total value 166 million Swedish crowns.The contract will run for 14 years and will involve the Security and Defence Solutions operations in Adelaide, Australia.  Full Article

Saab AB still in talks on acquisition of ThyssenKrupp Marine Systems AB from ThyssenKrupp AG subsidiary
Thursday, 26 Jun 2014 03:40am EDT 

Saab AB:Says that in April ThyssenKrupp Industrial Solutions AG, a subsidiary of ThyssenKrupp AG, and Saab AB signed a non-binding Memorandum of Understanding concerning the sale of the Swedish shipyard ThyssenKrupp Marine Systems AB (formerly named Kockums) to Saab AB.The discussions are at a final stage but still ongoing.An agreement with ThyssenKrupp Industrial Solutions AG has not been signed.Further information will be announced when negotiations have ended and an agreement is signed.Saab has chosen to clarify the status of these discussions due to information published in the media.  Full Article

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