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Saab AB divests Combitech Traffic Systems

Saab AB divests Combitech Traffic Systems Saab has divested its subsidiary Combitech Traffic Systems AB to Austria's Kapsch AG. Combitech Traffic Systems is a world-leading company in systems for electronic road tolling. The electronic road tolling industry is currently in a period of restructuring. At the same time, analyses indicate that it is an industry of great future expansion, partly as a result of a growing need to finance new infrastructure. Environmental and efficiency issues are also crucial factors in many cases. "I see this move as a logical one, as Combitech Traffic Systems have products and technical know-how that complement Kapsch," says Gert Schyborger, Chairman at Combitech Traffic Systems. "The deal is further more a step in the process to restructure the business area Combitech. Kapsch will be a better industrial environment for Combitech Traffic Systems." Combitech Traffic Systems is a world-leading company in the construction, production and sales of systems for electronic road tolling. The systems are marketed under the PREMID@ and TOLLMATIC@ brands, and have to date been installed and ordered for electronic tolling in over 1,500 automatic tolling lanes for 1.7 million cars in 16 countries. Kapsch AG today operates primarily in the telecom sector, and is a well known systems supplier of both public and private networks in Europe. Since its start in 1892, the company has been owned by the Kapsch family, and now has a turnover of MSEK 3,500 and over 2,000 employees. In recent years it has invested more in traffic applications, most recently through its acquisition of Bosch's road tolling operation and has been successfully supplying to that field. "Thanks to the acquisition, Combitech Traffic Systems will now be in an industrial environment that invests aggressively in our niche. Together we will achieve a very strong position in electronic road tolling, in terms of products, technology and market know-how. In order to remain a competitive and complete supplier, we will need to master all aspects of road tolling systems in the future. Kapsch's expertise in communication and traffic applications, together with Combitech Traffic Systems' products and know-how in road tolling, makes for a very strong combination. " "This is an industrially sound structuring, with great benefits for customers, buyers and sellers, and particularly for personnel in the business," says Jan Germundsson, who will be staying as Managing Director of Combitech Traffic Systems. The financial result from divesting Traffic Systems is positive for Saab. The parties have agreed to to reveal the purchase sum. The deal is conditional upon the approval of the Austrian competition authorities. Saab AB is active in the aircraft-, space- and defense industry and supplies advanced products and systems based on sophisticated information technology. The business areas are Military Aerospace, Space, Training Systems, Commercial Aircraft and Combitech. For further information, please contact: Anders Jonzon, Director of Corporate Communications and Public tel +46 36 19 40 15 Affairs, Saab AB Jan Svedevall, PR & Public Affairs Manager Combitech Traffic Systems tel +46 36 19 48 75 Brigitte Herdlicka, Public Relations Manager, Kapsch tel +43 1 81111 2705 AG ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/31/20000131BIT00190/bit0001.doc http://www.bit.se/bitonline/2000/01/31/20000131BIT00190/bit0002.pdf