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Abonner Saab AB

Saab AB

Saab becomes established in Switzerland: From the 1st July Saab will take over the Warhead Division from the Swiss RUAG Technology group

Bern/Stockholm (ots)

The operations cover resources for
development, production and testing of advanced munitions. This part
of RUAG has unique competence in the area of shape charge technology
and has been one of the most important sub-contractors to Saab Bofors
Dynamics for a long time. In 2005 RUAG announced its withdrawal from
the heavy ammunition production.
The agreement was signed today in Berne in the presence of Saab's
President and CEO, Åke Svensson and RUAG's Group CEO Toni J. Wicki.
"I am very pleased with the agreement that we have signed. We are
strengthening and developing the strong relationship that we have
with RUAG and Switzerland. At the same time we get a unique and for
us important expertise in Saab", says Åke Svensson.
The business will be managed by the newly founded Saab Bofors
Dynamics Switzerland Ltd, which is headquartered in Thun. The new
company will continue to offer their expertise in the field of
warhead development and production to weapon system houses and
defence forces on the international market.
Saab will be keeping most of the Warhead Division's workforce and
renting premises at the "Boden" site in Thun.
RUAG will continue to have a minority holding in the company.
Saab serves the global market with world-leading products,
services and solutions ranging from military defence to civil
security. Saab has operations and employees on all continents and
constantly develops, adopts and improves new technology to meet
customers' changing needs.

Contact:

Anders Florenius
Acting Communication Director Saab
Tel: +46/73/446'12'23
Internet: www.saabgroup.com