Saab Ericsson Space To Buy Majority Of Industry Supplier Fokker Space
Saab Ericsson Space and Stork N.V., aerospace companies in Sweden and The Netherlands, respectively, have agreed to buy Fokker Space, one of the other Dutch suppliers to the space industry.
Fokker Space said its “expertise in light-rigid and strong structures” has led to its becoming a supplier to Arianespace. It also specializes in the design and integration of solar arrays–generally buying the photo–voltaic cells in the United States, according to its spokesman – and leads a consortium of companies that is developing a versatile European Robotic Arm for the International Space Station.
Fokker Space has been the last company descended from Fokker N.V. to remain independent, the company’s spokesman said. Other elements of Fokker have been bought up by other firms.
Saab Ericsson Space will buy 65 percent of Fokker Space; Stork will buy the remaining 35 percent. Financial terms of the deal are not being disclosed.
As part of the acquisition, Fokker Space will change its name to Dutch Space Industry B.V. Pieter Winters will continue as its president and chief executive and also will become a senior vice president of Saab Ericsson Space.
Bengt Mortberg, president and CEO of Saab Ericsson Space, said: “With the acquisition of Fokker Space, we are strengthening the company’s product portfolio by adding new strong niche products, and we will become an even more attractive partner.
The deal is subject to due diligence and approval by the relevant competition authorities. The companies expect to close it early next year.