BAE Systems Bofors has entered into an agreement

• The acquisition closing is contingent upon customary regulatory and other pre-closing activities necessary to complete this type of transaction.
• Aston Harald Mekaniska Verkstad has been a key supplier to the BAE Systems Bofors business for many years
• BAE Systems Bofors has signed a share purchase agreement to pursue the acquisition of Aston Harald Mekaniska Verkstad

BAE Systems Bofors has signed a share purchase agreement to pursue the acquisition of Aston Harald Mekaniska Verkstad, a Sweden-based provider of precision machined, large, complex structures for aerospace, defence and commercial products.

Headquartered in Kristinehamn, Sweden, with a highly skilled workforce of approximately 100 employees, Aston Harald Mekaniska Verkstad has been a key supplier to the BAE Systems Bofors business for many years, as well as other leading defence and commercial customers. This proposed acquisition supports the BAE Systems strategy to expand its capacity and capabilities in the European defence market and strengthen its supply chain resilience to deliver the Bofors ARCHER, TRIDON, 40 Mk4, and 57 Mk3 systems.

Both companies have a strong cultural alignment derived from their shared Swedish heritage, mission focus and commitment to product excellence. This proposed acquisition is expected to benefit Aston Harald Mekaniska Verkstad, BAE Systems, and their customers, by enhancing the companies’ capabilities to efficiently deliver the equipment needed to support the defence missions of Sweden and other NATO Allied countries and the complex fabrication needed to support commercial customers across Europe.

The acquisition closing is contingent upon customary regulatory and other pre-closing activities necessary to complete this type of transaction. Only after these and other activities are complete will a transaction be able to occur, which is expected during the first half of this year.