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Saab Sells Materials Laboratory to the UK Company Bodycote.

Business Editors

STOCKHOLM, Sweden--(BUSINESS WIRE)--Feb. 14, 2001

Today, Saab has sold its wholly owned materials laboratory, Celsius Materials Karlskoga AB (CMK) with operations in Karlskoga and Karlstad.

The purchaser is the UK listed materials technology group Bodycote acting through its Swedish subsidiary, Bodycote Polymer AB.

The purchase is part of Saab's structuring of its operations following the acquisition of Celsius. It will have a marginally positive effect on income of the Saab group. The company has sales of approximately SEK 20 million per year and 22 employees.

The purchase follows a letter of intent from December 2000 and also includes a long-term agreement of cooperation and supply of services between Saab's subsidiary CSM Materialteknik and the Bodycote Group.

"It is a profitable and well-run company with unique skills that will now become part of the core business in the Bodycote Group, which is oriented towards materials technology," says Per Ove Moberg, Manager of Saab's business area Other Operations.

"The Bodycote Group is a world leader in materials technology. It has operations in about 20 countries and more than 6000 employees, which means excellent prospects of continued positive development for the company," says Derek Sleight, Director of Bodycote International PLC.

Saab is one of the world's leading high-technology companies, with its main operations focusing on defence, aviation and space. The group covers a broad spectrum of competence and capability in systems integration.

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Publication:Business Wire
Date:Feb 14, 2001
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