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Grintek and SAAB in new business partnership

South African electronics and communications group, Grintek, and Sweden's Saab, have teamed up to compete in world markets in the high-tech communications and data network defence sectors.

The new partnership, which will immediately result in combined turnover growing from US$25m to US$40m (approximately R200m to R320m), is the direct result of relationships formed around South Africa's strategic defence procurement package.

The new Saab-Grintek partnership will secure 250 highly skilled jobs in the short-term. As the company enters new markets with the help of Saab's worldwide network, this number is expected to grow. Welcoming the new technology links and business prospects offered by the partnership, Grintek Chairman Zoli Kunene, said, "This is an important step in integrating South Africa's best technological skills and capabilities into the global industry. It is a further indication of how the strategic defence procurement programme can secure and expand the role of South Africa's most modern industries internationally."

For details regarding Grintek contact Sybrand Grobbelaar on 082 550 1552.

For details regarding Saab contact Björn Erman on tel: (0946) 8 75 70485.

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