Saab becomes established in Switzerland: From the 1st July Saab will take over the Warhead Division from the Swiss RUAG Technology group
Bern/Stockholm (ots)
The operations cover resources for development, production and testing of advanced munitions. This part of RUAG has unique competence in the area of shape charge technology and has been one of the most important sub-contractors to Saab Bofors Dynamics for a long time. In 2005 RUAG announced its withdrawal from the heavy ammunition production.
The agreement was signed today in Berne in the presence of Saab's President and CEO, Åke Svensson and RUAG's Group CEO Toni J. Wicki.
"I am very pleased with the agreement that we have signed. We are strengthening and developing the strong relationship that we have with RUAG and Switzerland. At the same time we get a unique and for us important expertise in Saab", says Åke Svensson.
The business will be managed by the newly founded Saab Bofors Dynamics Switzerland Ltd, which is headquartered in Thun. The new company will continue to offer their expertise in the field of warhead development and production to weapon system houses and defence forces on the international market.
Saab will be keeping most of the Warhead Division's workforce and renting premises at the "Boden" site in Thun.
RUAG will continue to have a minority holding in the company.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers' changing needs.
Contact:
Anders Florenius
Acting Communication Director Saab
Tel: +46/73/446'12'23
Internet: www.saabgroup.com