Saab selss two surface treatment companies to the UK company Bodycote
Saab sells two surface treatment companies to the UK company Bodycote Today, Saab has sold its two wholly owned surface treatment companies, Yttec AB with operations in Katrineholm and Karlstad, and Celsius Nussbaum GmbH, with operations in Germany. The purchaser is the UK listed materials technology group Bodycote acting through its Swedish subsidiary, Bodycote Thermotreat AB. The purchase is part of Saab's structuring of its operations following the acquisition of Celsius. It will have no effect on income of the Saab group and only a marginal impact on the balance sheet and cash flow. The two companies together have sales of approximately SEK 100 million per year and about 170 employees. A letter of intent is also being signed by Bodycote and Saab with regard to starting negotiations on a long-term agreement for the supply of services from CSM Materialteknik to the Bodycote Group and the sale of Celsius Materials Karlskoga to Bodycote Thermotreat AB. "These are two profitable and well-run companies with unique skills and they will become part of the core business in the Bodycote Group, which is oriented towards materials technology," says Per Ove Moberg, Manager of Saab's business area Other Operations. "The Bodycote Group is a world leader in materials technology. It has operations in about 20 countries and more than 6000 employees, which means excellent prospects of continued positive development for both companies," says Tommy Crona, President of Bodycote Thermotreat AB. Bodycote Thermotreat AB has over 30 service units in Sweden, Denmark, Finland and Austria, and is a member of the Bodycote Group with over 200 units in 20 countries. The group is the world's leading company in thermal and surface treatment. Bodycote Thermotreat plans to continue its expansion in the surface treatment industry, mainly through acquisitions in Finland and Denmark. Saab is northern Europe's leading high technology company, mainly active in the defense, aviation and space industry, and offers advanced products and systems based on sophisticated information technology. The business areas within Saab are Infomatics, Aerospace, Dynamics, Technical Support and Services, Space and Aviation Services. For further information, please contact: Per Ove Morberg, Senior Vice President,phone: +46 8 463 00 69 Other Operations, Saab AB +46 70 622 87 47 Tommy Crona, President,Bodycote Thermostreat AB phone: +46 31 332 19 50 www.saab.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/20/20001219BIT01150/bit0001.doc http://www.bit.se/bitonline/2000/12/20/20001219BIT01150/bit0002.pdf