Electronics Production | January 28, 2005
Saab acquires 51 percent of Elesco
Saab Systems has acquired the remaining 51 percent of Finnish defence corporation Elesco. Saab initially acquired 49 percent last year, so this latest move makes Saab the sole owner of Elesco.
“Buying the remaining 51 percent of Elesco will further strengthen Saab’s presence on the important Finnish market,” says Dan-Åke Enstedt, President of the Saab Systems business unit. Elesco’s main focus is systems integration for the Finnish armed forces. The company has 35 employees and a turnover of approximately MSEK 35. 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 capability in systems integration. Elesco supplies defence system products directly to the end users or via its partnership network, as well as through industrial participation in integrated systems to be delivered by a prime contractor. Elesco offers added value by its expertise in Finnish environments and customer specific requirements, as well as documenting, training, upgrading, maintenance and repair services.