Defence and security company Saab has received an order for Gripen E role equipment, along with support and maintenance equipment. The value of the order amounts to approx. SEK 5.8 billion. The order is part of Saab’s existing agreement with the Swedish Defence Materiel Administration (FMV) covering activity for the Gripen E from 2013 to 2026. Delivery will begin in 2016.
This is the fourth order under the Gripen E agreement between Saab and FMV announced on 15 February 2013. Three earlier orders, linked to the development and production of Gripen E, were received during 2013. Work will be performed within the business areas Aeronautics, Electronic Defence Systems and Support & Services.
“Work with Gripen E goes according to schedule and budget. This order represents another important step in Saab's commitment to deliver the next generation of the Gripen system to Sweden,” says Lennart Sindahl, Senior Executive Vice President of Saab and Head of Saab's business area Aeronautics.
Gripen is unique in combining high technology and capabilities with cost efficiency. Gripen E has significant performance improvements, including a more powerful engine, longer range, more weapons, a new AESA radar and more advanced avionics. Today, Gripen is the backbone of five nations' air defences: Sweden, South Africa, Czech Republic, Hungary and Thailand. In addition, the Empire Test Pilot School (ETPS) in the UK uses Gripen in its training programme for future test pilots.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers’ changing needs.
The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on October 16 at 08.30 (CET).
Source: Saab AB (OMX Stockholm: SAAB B)
Date: Oct 16, 2014