BAE SYSTEMS agrees to sell camouflage, concealment and deception (CCD) business to SAAB barracuda AB
11 Mar 2002
BAE Systems North America and Saab Barracuda AB of Sweden today announced that they have reached a definitive agreement under which Saab Barracuda will acquire BAE Systems CCD business in Lillington, North Carolina. The BAE Systems CCD line of business has about 100 employees; its core competency is development and production of advanced camouflage netting for the military. Closing of the agreement is expected to occur within 60 days.
"This proposed transaction advances BAE Systems North America's strategic focus," said BAE Systems Chief Operating Officer and North America President Mark Ronald. "Our camouflage business is highly regarded by customers and the industry, and we believe this commodity line is a superb fit with Saab Barracuda.""
"The deal made today is another step in Saab's strategic development. We strengthen our presence in the United States, the market that is expected to grow fastest when it comes to purchasing advanced high-tech defence products during the next few years," said Bengt Halse, Saab's Group President.
The Lillington business is part of BAE Systems Integrated Defense Solutions (IDS) unit, with headquarters in Austin, Texas. The CCD business has been a producer of advanced screen camouflage systems, mobile camouflage systems and tailored spectral coatings since 1990. In 1994, BAE Systems and Saab Barracuda signed a technical assistance agreement providing technical and marketing cooperation for CCD products in the U.S. The Lillington production facility has been manufacturing systems for the U.S. market since 1999. Foremost among the unit's CCD products is its Ultra Lightweight Camouflage Net System -- ULCANS -- which provides heightened protection for military forces against visual, near infrared, thermal infrared and radar detection.
The parties will voluntarily seek review by the Committee on Foreign Investment in the United States. Ronald said that "BAE Systems North America and Saab Barracuda are both committed to working in partnership to secure all required approvals as promptly as possible."
Additional Information for Editors
BAE Systems is a systems company, innovating for a safer world. BAE Systems employs more that 120,000 people in eight home markets around the world and has annual sales of some 13 billion. The company offers an unrivalled global capability in air, sea and land and space with a world-class prime contracting ability supported by a range of key skills. BAE Systems designs, manufactures and supports civil and military aircraft, surface ships, submarines, space systems, radar, avionics, communications, electronics, guided weapon systems and a range of other defence products.
BAE Systems North America employs 22,000 people in the design, development, integration, manufacture and support of a wide range of advanced aerospace products and intelligent electronic systems for government and commercial customers.
Saab Barracuda AB is a company within the Systems and Electronics business area of the Saab Group. Saab Barracuda develops, produces and markets signature management products and services for protection against detection and identification. The company, with subsidiaries in Australia, India, Canada and France, and customers and representation in 50 countries, is the world leader within its field. For more information on the company, visit: www.barracuda.se.
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 capabilities in systems integration.
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