Saab to acquire Nyge Aero
Saab to acquire Nyge Aero Saab intends to acquire all stock units in AB Nyge Aero Norden from Industri Kapital 1989. Nyge Aero was established in 1956 and operates in maintenance and modification of military and commercial aircraft and helicopters, as well as agency operations and target aircraft. The company has 167 employees and had a turnover of SEK 160 m. in 1998. Business is run from Nyköping, Ljungbyhed, Gävle, Luleå and Sandefjorden in Norway. The Nyge Aero acquisition means Saab will be increasing its activities in the market for maintenance and modification of both military and commercial aircraft. The acquisition is subject to the approval of the Swedish Competition Authority. Industri Kapital is a leading private equity fund focusing on Northern Europe, with assets under management in excess of one billion Euro. Since 1989, 28 investments have been made in companies in various industries. The fund investors are mainly well-known Nordic, European and North American institutional investors. Saab is active mainly in the aircraft, space and defense industry, and offers advanced products and systems based on sophisticated information technology. Annual turnover is about SEK 8 billion and around 8,000 persons are employed. For further information, please contact: Björn Sundén, President, Nyge Aero tel +46 155 771 10, +46 70 567 40 75 Lars Jagerfelt, Vice President, tel +46 13 18 71 65 Corporate Communications and Public Affairs Rolf Forsell, Strategy and Business tel +46 13 18 54 97 Development, Saab AB Björn Savén, Chief Executive, tel +46 8 678 95 00 Industri Kapital Michael Rosenlew, Director, Industri Kapital tel +46 8 678 95 00 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/01/19990401BIT00190/bit0001.doc http://www.bit.se/bitonline/1999/04/01/19990401BIT00190/bit0002.pdf