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SAAB AND TIETOENATOR CREATE JOINT VENTURE IN FINLAND
Saab and TietoEnator will form a joint venture company called TietoSaab Systems Oy, with the intention of becoming a major supplier in defense and civil security solutions in Finland. Additionally, Saab will get access to long-term IT support from TietoEnator. The joint venture will launch operations on 1 January 2006 and will have its operations in Finland. TietoEnator will own 60 per cent and Saab 40 per cent of the company's share capital and votes, and the joint venture also includes the Saab owned company Elesco.
"Finland is an important market for Saab," said Dan-Åke Enstedt, president, Saab Systems. "With this joint venture we will build up a strong local competence within the command and control area, integration, network-based defense, etc. Our strategy is to be a long-term partner to our Finnish customers. The joint venture company shall also act as a platform for export activities outside Finland."
For TietoEnator, Anja Vainio stated, "High technology and IT are key in network-based defense, and Finland is at the forefront in deploying them in the command and control area. By combining forces with Saab we are now able to meet our Finnish customers' expectations by offering a wide range of integrated operative solutions."