Saab increases holding in Cold Cut Systems
Saab increases its shareholding in Cold Cut Systems Svenska AB (CCS) to 27 percent. In connection to the new share issue, Lars Hellström was appointed new CEO. The collaboration supports CCS’s future growth and is a part of Saab’s investments in civil security.
“Cold Cut Systems’ products for fire extinguishing and rescue work complement Saab’s portfolio of products and systems for the emergency services”, says Fredrik Rosenqvist at Saab Ventures. “We also see good collaboration opportunities and believe in CCS and their operations; therefore Saab is now providing additional growth capital.”
Cold Cut Systems Svenska AB is a fast growing and profitable company that develops products for extinguishing fires and rescue work. At present CCS has customers in 29 countries and sales of 45 million SEK. That figure is expected to increase as CCS expands into more markets. Last year CCS was awarded “Newcomer of the Year 2007 (growth 2000)” by Business Region Gothenburg and has also been awarded a prize for growth by the newspaper Dagens Industri.
One of their best known products, COBRA, is also known as the “cutting extinguisher”. It gives fire fighters a brilliant and efficient new way of putting out fires. This method, which was developed in collaboration with the Swedish Rescue Services Agency and several Swedish rescue services, also greatly improves the safety of the working environment for fire fighting personnel.
Lars Hellström is the new CEO of CCS from 1st January 2008. He was previously with Husqvarna and Wilson Logistics Group.
Saab Venture is a venture capital unit within Saab, which invests in small and medium size enterprises (SMEs) with innovative technologies that have a relevance to Saab’s present and future business.