Products and solutions, Corporate Jan 11, 2017 10:00 AM
thyssenkrupp to buy up minority shares in Atlas Elektronik group
thyssenkrupp is acquiring the 49% interest in the Atlas Elektronik group currently held by Airbus and will therefore become the sole owner of Atlas Elektronik.
The Atlas Elektronik group is an international maritime high-tech company with a global reputation among other things for sonar systems and has been an important technology partner to thyssenkrupp Marine Systems for many years. For many customers, technological capabilities in these areas are key to their choice of supplier and are therefore also of strategic importance in connection with the global campaigns under way for several submarine and surface vessel programs.
thyssenkrupp already holds a 51% interest in Atlas Elektronik and currently manages the company together with Airbus as a joint venture. The full takeover will allow even closer cooperation between Atlas Elektronik and thyssenkrupp Marine Systems, for example in product development, to further improve flexibility and efficiency in the interests of our customers.
The purchase price has not been disclosed.
Completion of the transaction is subject to the approval of the thyssenkrupp Supervisory Board and the German government as well as regulatory approvals.