/ 18 August 1999

DAIMLERCHRYSLER BUYS REUTECH STAKE

THE German company, DaimlerChrysler Aerospace (Dasa) has acquired a 33% stake in South African defence electronics firm Reutech Radar Systems. The German aerospace firm said in a statement it views the stake as a “first strategic step” towards establishing a comprehensive partnership with the Stellenbosch-based electronics company. Newly-formed Reutech Radar Systems is engaged mainly in the field of Radar Technology and, according to Dasa, offers “huge synergies for the activities of the Dasa-business unit Defense and Civil Systems.” Involved in procurement programmes for the South African National Defence Force, Reutech specialises in ground-based and shipborne radar systems,and is active in the air defence, airspace control and air traffic control markets. With an annual revenue of DM3,4-billion, Dasa focuses on defence electronics, guided missile systems and telecommunications systems.