Saab to exit MEMS business

Nov. 15, 2002 — Saab AB said it will close its wholly owned unit, Saab MicroTech AB, according to a news release.

Saab said the 10-person subsidiary, which develops MEMS, does not fall within its core activities. The Swedish automotive, aerospace and defense giant said it was unsuccessful in finding a buyer for the unit.

The Gothenburg-based unit will meet its current customer obligations and shut down by May, the release said.


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