Saab in­vests in Pi­pavav

SP's MAI - - CORPORATE -

In Au­gust 2012 de­fence and se­cu­rity com­pany Saab an­nounced that a me­moran­dum of un­der­stand­ing (MoU) had been signed con­cern­ing a strate­gic in­vest­ment in the listed In­dian com­pany Pi­pavav Off­shore and De­fence En­gi­neer­ing Ltd (Pi­pavav). An in­vest­ment of MSEK 250 has now been made in shares. Af­ter the in­vest­ment, Saab holds ap­prox­i­mately 3.3 per cent of the cap­i­tal and votes in the com­pany. The in­vest­ment will be fi­nanced from Saab’s own read­ily avail­able re­sources. “We are pleased to an­nounce this part­ner­ship and our strate­gic in­vest­ment in Pi­pavav. The in­vest­ment of­fers a solid plat­form for growth for us on the In­dian mar­ket and Pi­pavav strength­ens their com­pet­i­tive po­si­tion through Saab’s tech­nol­ogy. In­dia is an im­por­tant mar­ket for us and the in­vest­ment will fur­ther re­in­force Saab’s strong po­si­tion on the global de­fence and se­cu­rity mar­ket,” says Lars Olof Lind­gren, Head of Mar­ket Area, Saab In­dia.

Saab and Pi­pavav have pre­vi­ously also jointly formed the Com­bat Sys­tem En­gi­neer­ing group, which analy­ses naval com­bat sys­tem de­sign and ar­chi­tec­ture. The com­pa­nies are also ex­plor­ing next gen­er­a­tion com­bat man­age­ment sys­tems for the In­dian Navy and Coast Guard.

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