LONDON - The Swedish defense contractor Saab said on Monday that it was in talks to buy ThyssenKrupp’s shipbuilding operations in Sweden.
Saab and ThyssenKrupp, a German steel maker and engineering company, have signed a nonbinding memorandum of understanding concerning the sale of ThyssenKrupp Marine Systems, which has operations in the Swedish cities of Malmo, Karlskrona and Musko.
The marine unit used to be called Kockums, and traces its roots to a shipyard and naval base that opened in 1679.
The negotiations are at “an early stage,†Saab said, and the transaction would be subject to regulatory approval.
No financial terms were released.
The deal, if reached, would expand Saab’s naval operations. The talks come as the Swedish Defense Matériel Administration has asked Saab to study the measures that what would be required for it to produce the next generation of Swedish submarines.
ThyssenKrupp has about 1,100 employees in Sweden, including around 920 at its shipyard in Malmo.
