Defence and security company Saab has sold its stake, approximately 3.3 per cent, in Pipavav Defence and Offshore Engineering Company Limited to Reliance Defence Systems Private Limited, it was announced December 31, 2015.
Saab made the Pipavav investment on November 1, 2012.
“It is natural to act on the inquiry we got from Reliance Defence Systems to acquire our stake in Pipavav. We believe the cooperation between Saab and Pipavav now has the potential to get even better with the new owner,” said Jan Widerström, head of Saab India.
“Saab works actively in support of India’s strategy to increase its national ability to produce defence material. Local partnerships are being fostered to meet the needs of the customer and the market conditions,” said Jan Widerström.
Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers’ changing needs.
Saab made the Pipavav investment on November 1, 2012.
“It is natural to act on the inquiry we got from Reliance Defence Systems to acquire our stake in Pipavav. We believe the cooperation between Saab and Pipavav now has the potential to get even better with the new owner,” said Jan Widerström, head of Saab India.
“Saab works actively in support of India’s strategy to increase its national ability to produce defence material. Local partnerships are being fostered to meet the needs of the customer and the market conditions,” said Jan Widerström.
Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers’ changing needs.
fii-news
