- Press Release
- September 24, 2022
Saab Ericsson Acquires Majority Interest in Fokker Space
Space, headquartered in Goteborg, Sweden will acquire 65% of the
leading Dutch space company Fokker Space.
Stork, the major aerospace industry in the Netherlands, will
acquire the remaining part of the shares. Fokker Space is a prime
supplier of solar arrays, is also a specialist in advanced robotics
technology and is prime contractor of the European Robotic Arm. The
company’s expertise in “light-rigid” and strong structural components
has led to close involvement in the Ariane launcher development and
production program. Fokker Space has 400 employees and Euro 100
million in annual sales.
Bengt Halse, President and CEO of Saab AB:
“The acquisition reinforces the position of Saab Ericsson Space as
a world-leading supplier of aerospace equipment. Saab AB shall grow
organically or through acquisitions. This philosophy is in accordance
with Saab’s general market strategy.”
The parties have today signed the Letter of Intent and after a due
diligence and subject to approval by relevant competition authorities
the transaction will be closed in the beginning of next year.
This move further strengthens Saab Ericsson Space competitiveness
on the international space market. The build up of an independent
strong network of subsystem suppliers started successfully some years
ago with the acquisition of the two leading Austrian space companies,
today reorganised into Austrian Aerospace. The acquisition of Fokker
Space is a continuation of this strategy.
Bengt Mortberg, President and CEO of Saab Ericsson Space: “With
the acquisition of Fokker Space we are strengthening the company’s
product portfolio by adding new strong niche products and we will now
become an even more attractive partner. We’ve been working with Fokker
Space for many years and the skills and business-like approach we’ve
seen impress us. Our corporate cultures also fit very nicely together.
Now we’re taking a new step and entering as a majority owner. Saab
Ericsson Space together with Austrian Aerospace and Fokker Space will
work closely in terms of product development, purchasing and
marketing. This new acquisition is also a logical step in the
restructuring process that is needed in the European space industry,
also at suppliers level.”
Hans Berends van Loenen, Group Director of Stork Aerospace: “For
Stork, the shareholding in Fokker Space means a strengthening of the
synergy between aviation and aerospace technologies in general, and a
strengthening of the space activities in particular. The technological
innovation in space is very significant for the aviation and defence
Fokker Space will, as a consequence of the acquisition, change its
name to Dutch Space Industry BV (DSI). Mr Pieter G. Winters continues
as President and CEO and will also be appointed Senior Vice President
of Saab Ericsson Space.
Saab Ericsson Space Group, an independent supplier of space
equipment, is jointly owned by the two listed Swedish companies Saab,
active in defence and aerospace, and the telecom group Ericsson. The
company’s main products are, after the acquisition of Fokker Space,
digital and microwave products, mechanical systems, thermal hardware,
structures, solar arrays and advanced robotics technology for launch
vehicles, satellites and other spacecraft. The headquarters are
located in Goteborg, Sweden, and there are subsidiaries in Austria,
the Netherlands and the USA. Saab Ericsson Space employs 1,000 people.
Saab is northern Europe’s leading high technology company, mainly
active in the defence, aviation and space industry, and offers
advanced products and systems based on sophisticated information
technology. The business areas within Saab are Infomatics, Aerospace,
Dynamics, Technical Support and Services, Space and Aviation Services.
Information also available on www.space.se