Electronics Production |
Saab buys avionics electronics firm
Saab has signed an agreement to acquire Aerospace Monitoring and Systems (Pty) Ltd in South Africa. The acquisition is likely to be effective in April 2006.
Upon completion of the deal AMS will be part of Saab Avitronics, a Saab business unit focusing on avionics and electronic warfare systems, which already has operations in both Sweden and South Africa.
AMS focuses on proprietary Aircraft Monitoring and Recording Systems for the global aerospace and defence market. The company is based in Midrand, South Africa, has a turn over of MRAND 58 and employs 75 people.
The acquisition is another step in Saab's strategy to actively participate in the consolidation of the international defence industry within its strategic niches as well as continuing its expansion in South Africa.
The acquisition is valued at MRAND 30 and will be subject to approval by the regulatory authorities and is likely to be effective beginning of April 2006.
Like Saab Avitronics current electronic warfare operations in South Africa, AMS will, from a legal point of view, be part of Saab Grintek Defence (Pty) Ltd which is jointly owned by Saab Grintek (Pty) Ltd and Saab AB.
