Swedens Saab Inks Submarine Deal Comes Weeks After Saab Fumbled Major Jet Contract STOCKHOLM—Defense company Saab SAAB-B.SK +6.31% on Monday said it has a firm submarine deal in hand from Swedish officials, an important milestone just weeks after it fumbled a major fighter jet contract with Switzerland. The 467 million kronor ($70.4 million) order from the Swedish armed forces, which includes work on new and existing submarines, has put Saabs underwater business on a firm footing even before a potential deal to buy ThyssenKrupps TKA.XE +1.96% Swedish submarine unit is completed. The new agreement also includes a letter of intent for future work potentially worth around 11.2 billion kronor. ThyssenKrupp Industrial Solutions AG, a subsidiary of Germanys ThyssenKrupp AG, and Saab are currently in negotiations regarding the sale of the Swedish shipyard ThyssenKrupp Marine Systems AB, formerly named Kockums, with operations in Malmö, Karlskrona and Muskö. Read more: online.wsj/articles/swedens-saab-inks-submarine-deal-1402317198 Photo: pravasiherald/index.php/pravasih/comments/mittal_al_130112/
Posted on: Tue, 10 Jun 2014 02:30:00 +0000
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