Ericsson Saab Avionics sells its stake in Triangle Equipment A/S
23 May 2001
Ericsson Saab Avionics AB sells its stake in Triangle Equipment A/S to
Global Geo Services ASA
Ericsson Saab Avionics AB and GGS, Global Geo Services ASA, have signed
an agreement whereby GGS will purchase Avionics' stake in Triangle
Equipment AS. GGS will simultaneously acquire the remaining shares in
Triangle Equipment from the other shareholders.
The agreement will not affect the long-term collaboration between
Triangle Equipment and Ericsson Saab Avionics which began in 1999 and
which comprises the development and manufacture of advanced equipment
for rationalising oil and gas extraction. Ericsson Saab Avionics will
receive both cash payment and shares in GGS in exchange for the shares
in Triangle Equipment.
"This is part of the process of exploiting our broad technology base in
the commercial market," says Peter Sandehed, manager of the Venture
Capital function within the Saab Group.
Triangle Equipment is a Norwegian company based in Stavanger which
develops and sells complementary systems and products for oil wells.
Global Geo Services ASA is a Norwegian company based in Oslo and
specialising in the acquisition of "multi-client seismic data" for
localising oil and gas resources.
Ericsson Saab Avionics AB is owned jointly by Saab and Ericsson and is
the leading supplier of electronic systems for the JAS 39 Gripen. These
inculde the EP-17 display system and EWS-39 electric warfare system.
Saab is one of the world's leading high-technology companies, with its
main operations focusing on defence, aviation and space. The group
covers a broad spectrum of competence and capability in systems
For further information, please contact:
Rolf Sandström, Industrial Collaboration, Ericsson Saab Avionics AB
Phone: +46 8 757 05 61
Anders Stålhammar, Press Secretary, Saab AB
Phone: +46 13 18 71 75
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Last updated: 23 January 2015 • 14:43