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Strategic acquisition by SAAB of US Signature Management business

Strategic acquisition by Saab of US Signature Management business Saab Barracuda AB has reached a definitive agreement to acquire BAE SYSTEMS' Signature Management business in North America, thus strengthening Saab Barracuda's position as a world leader in this line of business. Since 1994, BAE SYSTEMS has been engaged in the development, marketing and production of advanced camouflage for the US Armed Forces under a technical assistance agreement and manufacturing license agreement with Saab Barracuda AB. The company employs about 100 people in Signature Management and has its operations in Lillington, North Carolina. The acquisition is part of Saab's strategic planning in the high-tech defence products sector and a logical step in the company's ambition to grow - organically as well through acquisitions - on both sides of the Atlantic. "The deal made today is another step in Saab's strategic development. We strengthen our presence in the United States, i.e. the market that is expected to grow fastest when it comes to purchasing advanced high-tech defence products during the next few years", says Bengt Halse, Saab's Group President. Saab Barracuda is not new to the U.S. Defence market, having licensed camouflage technology, a key ingredient of Signature Management, to U.S. companies since 1974. This acquisition will now enable Saab Barracuda to greatly expand its marketing activities in this part of the world and also provide additional capacity for its production. "We supplement our existing operations by targeting resources on development, marketing and production in the United States. Our immediate presence in the United States will make it possible to further expand our already strong product portfolio", says Göte Nilsson, President of Saab Barracuda AB. "We are well prepared for further development of our core competence and to stay on the cutting edge of technology, which will result in continued profitability and growth". 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 defence, 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 Åsa Edwardsson, Information Officer, Saab Barracuda AB Phone: +46 493 14811 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/2002/03/11/20020311BIT00510/wkr0001.doc http://www.waymaker.net/bitonline/2002/03/11/20020311BIT00510/wkr0002.pdf