Feb 04 2013
|more articles from|
Saab creates UAE-based radar joint venture with Tawazun
Monday, Feb 04, 2013
By Katarina Gustafsson
STOCKHOLM--Swedish defence and security company Saab AB (SAAB-B.SK) Monday said it is creating a joint venture radar company in the United Arab Emirates with Tawazun , an investment company focusing on defence and strategic manufacturing, in a move to increase its presence in key markets.
-The new company is named Abu Dhabi Advanced Radar Systems (ADARS).
-Saab will own a 49% stake in the company and Tawazun will own 51%.
-At 0804 GMT shares traded 0.2% lower at SEK136.70.
(END) Dow Jones Newswires
© Copyright Zawya. All Rights Reserved.