Saab acquires GKN Aerospace's Applied Composites business
Sweden-based Applied Composites employs 55 people and primarily serves the aerospace, defense and transit markets.
Defence and security company Saab (Stockholm, Swedent) reported on Dec. 22 that it has acquired Applied Composites AB (Linköping, Sweden) from GKN Aerospace. Saab says the acquisition will guarantee key technologies for the development of future ground combat weapon systems and advanced radomes.
Applied Composites is an expert in the development and manufacture of composite components for high-technology products. The acquisition was signed on Dec. 22 and the transition of the company will become effective on Dec. 29.
“This is a very important and crucial acquisition for Saab. By integrating ACAB into Saab Dynamics we will get improved control of key components of the supply chain for Saab’s product portfolio. At the same time we are creating synergies with ongoing production that will create efficiency gains, improved competitiveness and value for our customers,” says Görgen Johansson, senior vice president and head of business area dynamics.
Saab describes Applied Composites as Scandinavia's leading expert in applied composite technology. The company has approximately 55 employees and an annual turnover of around 105 million SEK (US$12.6 million).
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