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Electronics Production | August 04, 2006

Joint takeover of Atlas successfully closed

With the closing successfully concluded on August 3, 2006, the takeover of Atlas Elektronik has now been consummated.
In the first phase of the deal, ThyssenKrupp and EADS acquire 60- and 40-percent stakes in Atlas Elektronik, respectively. In a second step, to take place in the near future, EADS will integrate its entire maritime electronics business into Atlas Elektronik, after which ThyssenKrupp will hold 51 percent and EADS 49 percent of the shares.

The takeover will permit the two owners to bundle their capabilities in both naval platform and electronics/systems business with a view to creating a strong naval electronics and systems company. The joint acquisition and the contribution of EADS's naval business will do much to strengthen Atlas Elektronik at its Bremen location.
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