Saab strengthens position in India
regarding a strategic investment in the Indian company Pipavav Defence and
Offshore Engineering Co Ltd. In conjunction to this the companies have signed a
Technical Partnership Agreement (TPA). The TPA is a continuation of an ongoing
co-operation between the two parties and covers details about the format for
further co-operation and relevant projects.
These agreements are a step in Saab’s strategy to increase the presence in an
important and large market and offer business possibilities for several parts of
the organisation. The MOU covers an investment by Saab of approximately MSEK 250
through a suitable structure, subject to all necessary approvals, during coming
months.
“Saab has a long-term strategy to grow in India and this new agreement is one
important step in that direction,” says Håkan Buskhe, President and CEO at Saab.
Pipavav is today one of the strongest private players in the naval domain in
India and has ambitions also in other defence areas. It therefore fits well into
Saab’s product portfolio.
“This agreement has the potential of offering new business opportunities for
Saab’s naval offer and we welcome the possibilities this presents to further
develop our offering to a global market,” says Jan Widerström at Saab.
The two companies earlier 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.
Saab serves the global market with world-leading products, services and
solutions ranging from military defence to civil security. Saab has operations
and employees on all continents and constantly develops, adopts and improves new
technology to meet customers’ changing needs.
