Saab divests space subsidiary to Swiss peer

Swedish defence and aerospace group Saab AB said on Tuesday it will sell its Saab Space subsidiary to Switzerland-based RUAG Holding for 335 million kronor ($56 million).

“Saab Space is well managed and profitable, but we have not been able to reach sufficient synergies with other operations within Saab and as a result not the desired possibilities of growth and profit,” said Saab CEO Åke Svensson in a statement.

The company also cited the consolidation in the European space industry as another factor in the decision to divest Saab Space.

The deal allows for Saab to have an additional consideration related to the long-term performance of Saab Space under its new owners.

It said the sale of the space division, which requires approval of competition authorities, would generate about 100 million kronor in capital gains in 2008.


Largest meteor shower of the year to appear in Sweden’s skies

The Perseids meteor shower is expected to be best visible over Sweden on Sunday night.

Largest meteor shower of the year to appear in Sweden’s skies
File photo: Michael Lopez/Walla Walla Union-Bulletin via AP/TT

As the earth passes through the trail of the remains of a comet, the burning of meteorites in the atmosphere will result in the sparkling display in the night sky over Sweden.

The phenomenon, known as the Perseids, occurs in August every year, when the earth moves through the solar orbit of the Swift-Tuttle comet.

The meteor shower – actually meteorites and dust burning up on entering the earth’s atmosphere – can be up to 90 shooting stars per hour.

The best views of the Perseids in Sweden will be in the south of the country, according to website Populär Astronomi. While visibility will be better in the countryside, the meteor shower will also be observable from towns and cities.

Between 1am and 2am, when the sky is darkest, will be the best time to spot the cosmic event.

Weather could present a problem for spectators in Sweden, however, with cloud cover in many parts of the country forecast by meteorological institute SMHI.

Large areas between Östersund and Luleå, as well as in western Skåne, are forecast to have clear skies.

Although the meteor shower is likely to be most easy to spot from earth on Sunday night, it has been visible since the end of July and will remain so for a further two weeks.

The Perseids take their name from the constellation Perseus, the constellation from which they are thought to have originated.

READ ALSO: Top tips for watching the meteor shower in Sweden (from 2016)