LINKOPING, Sweden, Aug. 20, 2003 (PRIMEZONE) -- South African Grintek and Saab are expanding their co-operation and jointly establishing a command and control systems business with the formation of GrIDS, Grintron Integrated Defence Solutions.
The business unit, with initially about 25 employees in Centurion, South Africa, has been involved in the development of command and control systems for the South African air defence.
"The deal is part of Saab's long-term strategy to grow through acquisition as well. It is also important for our long-term commitments in South Africa, and our desire to become a significant player on the international market for network-centric defence," said Ake Svensson, President and CEO of Saab.
The business unit will become part of the Grintron company, which is owned 51% by Grintek and 49% by Saab. Other business units within Grintron are Avitronics, Grintek Communication Systems and Logtronics.
Saab is one of the world's leading high-technology companies, with itsmain operations focusing on defense, aviation and space. The Groupcovers a broad spectrum of competence and capability in systemsintegration.
For further information please contact: Bjorn Erman, President, SaabTech + 46 70 554 00 40 Anna Bergenlid, Director, Communications and + 46 70 573 99 42 Public Affairs
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