PRESS RELEASES

PRESS RELEASES

Posted on Jan 13, 2017

thyssenkrupp (whose current branding dropped the capital letter in its name) has entered into an agreement to acquire the 49% interest in the Atlas Elektronik Group currently owned by Airbus Defence and Space. Having already held a 51% interest in the company, thyssenkrupp will therefore become the sole owner of Atlas Elektronik.

The Atlas Elektronik group is an international maritime high-tech company with a global reputation for cutting-edge maritime technology such as sonar systems and has been an important technology partner to thyssenkrupp Marine Systems for many years.

Atlas Electronik is heavily involved in maritime systems such as submarine, surface combatant, marine warfare countermeasures, maritime security, underwater unmanned systems, and more. 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.

With its exiting 51% interest in Atlas Elektronik, thyssenkrupp 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, and completion of the transaction is subject to the approval of the thyssenkrupp Supervisory Board and the German government as well as regulatory approvals.

The sale of its shares in Atlas Elektronik is part of Airbus DS's divestment program which will allow it to focus on its core business.

Atlas Elektronik Canada is a wholly-owned subsidiary of Atlas Elektronik GmbH of Germany.

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