WASHINGTON, Oct. 22 (UPI) -- Swedish defense and security company Saab has combined several of its U.S. businesses into a single entity to enhance efficiency.
The new company is called Saab Defense and Security USA LLC. Former separate companies under the new entity are Saab Training USA LLC, Saab Barracuda LLC, Saab Support and Services LLC, and the defense elements of the Saab Sensis Corp.
"Even when viewed against the background of the current budget situation, the U.S. defense and security market represents nearly 50 percent of the total global market," said Jonas Hjelm, head of Saab's Americas Market area. "This makes it very important for Saab to solidify its position and grow its presence in the U.S.
"Our existing portfolio of products, systems and capabilities provide us a flexibility to provide quick solutions to meet customer needs and make us an attractive partner to major U.S. defense industries. From its very start, Saab Defense and Security USA has a sound business footing and is expected to remain a profitable company with excellent prospects."
Lars Borgwing, former chief executive officer of Saab Training USA. is the new company's president and chief executive officer.
Saab Defense and Security USA is headquartered in Sterling, Va.