Saab says talks on Kockums buy "at final stage"

Kockums A26 design for next generation Swedish submarine Kockums A26 design for next generation Swedish submarine

JUNE 26, 2014 — Saab AB says discussions on its acquisition of the former Kockums shipyard are "at a final stage, but still ongoing."

Earlier this month, the Swedish Defense Material Administration (FMV) reached an agreement with Saab AB on construction and production plans for Sweden's next generation submarines and to conduct a mid-life update of two Gotland-class submarines.

Today Saab issued this statement:

In April ThyssenKrupp Industrial Solutions AG, a subsidiary of ThyssenKrupp AG, and Saab AB signed a non-binding Memorandum of Understanding concerning the sale of the Swedish shipyard ThyssenKrupp Marine Systems AB (formerly named Kockums) to Saab AB. The discussions are at a final stage but still ongoing. An agreement with ThyssenKrupp Industrial Solutions AG has not been signed. Further information will be announced when negotiations have ended and an agreement is signed.

Saab has chosen to clarify the status of these discussions due to information published in the media.