Agreement to Produce JSF Parts Valued at Approx. MNOK 460

(July 2, 2009) -- Northrop Grumman Corporation (NYSE: NOC) has selected KONGSBERG (OSE: KOG) as a strategic partner to produce 5th generation composite components for the F-35 Joint Strike Fighter Program. Northrop Grumman is a principal partner of the Lockheed Martin-led F-35 industry team. The two companies signed the long-term framework agreement today. The current agreement is valued at approx. 460 Million NOK, and it has a potential value of 2,5 Billion NOK for the duration of the F-35 Program.

The new carbon fiber components that KONGSBERG will produce are highly complex and require close tolerance fabrication to meet the key performance parameters of the F-35 aircraft. The company's initial deliveries will support lot 3 low rate initial production aircraft, which will begin the program's transition to full rate production.

"KONGSBERG has made key capital investments that will enable them to meet the program's demanding quality requirements," said Ram Ramkumar, Northrop Grumman's Director of International Programs for the F-35. "The company's production capabilities are critical to the success of the F-35 program and we look forward to a long and mutually beneficial relationship".

KONGSBERG has recently received F-35 special process approvals that enable production of F-35 hardware, added Ramkumar.

"This is an important milestone for KONGSBERG", says Harald Annestad, President of Kongsberg Defence & Aerospace. "The agreement is the result of hard work from both teams, and paves the way for years of close cooperation between our companies in this exciting programme".

Source : Kongsberg Gruppen - click here for more information