Saab Grintek acquires avionics company AMS
25 January 2006
News
Saab Grintek has signed an agreement to acquire Aerospace Monitoring and Systems. The finalisation of the R30 million acquisition is planned for April 2006.
According to Saab this direct investment is another step in its strategy to actively engage and expand the South African defence industry on a global scale within its strategic niches, as well as continue its expansion into the South African and African markets.
"AMS' product portfolio and markets fits very well into our avionics business, especially in the areas of safety, monitoring and digital recording systems, where together we will be a significant global player," says Saab Avitronics president, Björn Erman.
Upon completion of the deal AMS will form part of Saab Avitronics, a Saab business unit focusing on avionics and electronic warfare systems, which already has operations in both Sweden and South Africa.
AMS will benefit from Saab Grintek's expertise and a well-developed global distribution footprint in a very active and increasingly competitive avitronics market.
"We are excited about the excellent strategic fit between our products, markets and cultures and look forward to expanding our business under the Saab brand," says Christo Weder, CEO at AMS.
AMS focuses on proprietary aircraft monitoring and recording systems for the global aerospace and defence market. The company is based in Midrand and employs 75 people. Currently, 95% of AMS' turnover is generated by export.
Like Saab Avitronics' current electronic warfare operations in South Africa, AMS will, from a legal point of view, be part of Saab Grintek Defence, which is jointly owned by Saab Grintek and Saab AB.
For more information contact Ben Ash, Saab Avitronics, +27 (0)82 558 3460.
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