Saab sells Saab Metech to Bodycote
Saab has signed an agreement with Bodycote International plc regarding the transfer of shares in Saab Metech AB and its subsidiaries in Denmark, Finland and Germany. The sale is subject to approval from the Swedish Competition Authority and will entail a capital gain of approximately MSEK 170.
“We see Bodycote as a highly suitable buyer for Saab Metech since it has an industrial focus with a firm international foundation. This gives Saab Metech the potential to go on developing positively, while the deal also enables Saab to continue streamlining its operation,” says Kenth-Åke Jönsson, Saab’s Executive Vice President. “For Saab Metech the sale to Bodycote entails significant opportunities for expanding the operation to reach new industrial clients both in Sweden and internationally,” says Hans Åberg, President of Saab Metech AB. Saab Metech offers complete service solutions within metrology and management of measuring instruments for the electronic, telecom, medical, electrical and mechanical engineering industries. Its customers can be found across Europe. Outside of Sweden, Saab Metech also has offices in Finland, Denmark and Germany. Saab Metech has 260 employees. Bodycote International plc is listed on the London Stock Exchange and is a world leader in metallurgical services with a global operation at some 230 locations in 22 countries. The company is extensively active in the Nordic region. Bodycote offers advanced engineering services primarily to industry, including various types of testing services. The acquisition of Saab Metech broadens Bodycote’s product and service portfolio. Saab Metech’s services will make up a new business line within Bodycote’s Testing Group.