Skip to content Go to main navigation Go to language selector

Saab acquire 21% in Grintek

Saab acquire 21% in Grintek Saab and Grintek have today increased their cooperation, whereby Saab acquire just over 21% in Grintek. The Grintek shareholders' have approved the deal. "South Africa's selection of Gripen for its future air defence, created the basis for Saab's relationship with Grintek. Over the past six years we have broadened our collaboration and we are looking to expand this relationship at a broader corporate and commercial level," said Saab AB executive director Kjell Möller. Grintek Ltd supplies electronics-related products and services to sectors within telecommunications, defence, avionics, air traffic management, security and power utilities markets in South Africa and selected export markets. The Group is listed on the Johannesburg Securities Exchange. Grintek has approximately 1,400 employees, many of whom are engineers and technicians. Saab and Grintek already cooperate in Grintron Pty Ltd, with Grintek Ltd owning 51% and Saab 49% of the stock. Grintron operates in the defence segment in South Africa and on the export market. 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: Iréne Svensson, Group Senior Vice President, Corporate Communications & Public Affairs, Saab AB Tel. +46 (0)8-463 01 30, +46 (0)734-18 71 30 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/2004/01/15/20040115BIT00240/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/15/20040115BIT00240/wkr0002.pdf