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BRIEF-Kongsberg strengthens its defence business
September 8, 2017 / 7:59 AM / 3 months ago

BRIEF-Kongsberg strengthens its defence business

Sept 8 (Reuters) - KONGSBERG GRUPPEN ASA:

* KONGSBERG STRENGTHENS ITS DEFENCE BUSINESS

* ‍NEW BUSINESS AREA WILL BE OPERATIONAL FROM OCTOBER 1ST 2017.​

* ‍GROUP MERGES ITS TWO DEFENCE AREAS​

* ‍NEW BUSINESS AREA, KONGSBERG DEFENCE & AEROSPACE, WILL FURTHER STRENGTHEN ITS POSITION IN A GROWING DEFENCE MARKET.​

* MERGER EXPECTED TO GIVE TOTAL ANNUAL COST REDUCTIONS OF APPROXIMATELY NOK 100 MILLION FROM 2018.​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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