ThyssenKrupp – no decision on bid for Atlas Elektronik

ThyssenKrupp AG said it has not made a decision on whether it will bid for BAE Systems’ German maritime electronics unit Atlas Elektronik.

“If you talk to BAE they will say a decision is not yet finished if they want to sell it onto the market,” ThyssenKrupp board member Olaf Berlien said during a conference with analysts.

Although no decision on the matter has been reached, ThyssenKrupp was open to the possibility of buying one of its suppliers. Atlas is a supplier to ThyssenKrupp’s shipbuilding unit. Thales has also voiced interest in the business.

Atlas Elektronik last year posted sales of EUR292 million and has around 1,600 staff.