American authority (Committee on Foreign Investment in the United States) has granted Saab Barracuda license for takeove
American authority (Committee on Foreign Investment in the United States) has granted Saab Barracuda license for takeover of production unit in USA American authority has granted Saab Barracuda license for takeover of BAE's production unit in Lillington, North Carolina. The acquisition of BAE SYSTEMS' Camouflage, Concealment and Deception (CCD), which was originally announced March 11, 2002, is as of now completed. The Lillington facility produces products and services within the area of Signature Management. The business has around 100 employees and the acquisition will entail a positive effect on the employment at the Gamleby facility. The acquisition and the access to the American market will double the sales of Saab Barracuda AB. Saab Barracuda have licensed camouflage technology, a key ingredient of Signature Management, to U.S. companies since 1974. In 1994, BAE SYSTEMS and Saab Barracuda signed an agreement providing technical and marketing cooperation for CCD products in the U.S. The CCD line of business is a producer of advanced screen camouflage systems, mobile camouflage systems and tailored spectral coatings. Foremost among the CCD products is the Ultra Light Camouflage Net System - ULCANS - which provides heightened protection for military forces against visual, near infrared, thermal infrared and radar detection. Saab Barracuda is located in Gamleby (Sweden) and a member of the Saab Group's business area Systems and Electronics. Saab Barracuda develops, produces and markets Signature Management products and services for protection against detection and identification. The company is a world leader in its line of business, with subsidiaries in four countries, and customers and agents in fifty countries. Saab is one of the world's leading high-technology companies, with its main operations focusing on defense, aviation and space. The group covers a broad spectrum of competence and capabilities in systems integration. For further information, please contact: Göte Nilsson, President, Saab Barracuda AB Phone: +46 493 14800 www.saab.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/22002/04/29/20020429BIT00480/wkr0001.doc http://www.waymaker.net/bitonline/22002/04/29/20020429BIT00480/wkr0002.pdf