SAAB Lands Big Order

Defence and security company Saab has received orders from the Swedish Defence Materiel Administration (FMV) regarding construction and production plans for the next generation submarines and to conduct a mid-life update of two Gotland-class submarines.

The orders refer to the period 2014-2015 and the order value amounts to $70m. In addition, the parties have signed a Letter of Intent regarding the Swedish armed forces’ underwater capability.

The Letter of Intent refers to the period 2015-2024 and includes potential orders of approximately $1.68bn.

Saab has received orders from FMV regarding construction and production plans for the next generation submarines and to conduct mid-life update of two Gotland-class submarines.

This includes the completion of systems design and to perform detail construction.

Delivery shall be made in 2014-2015. The work will be carried out in Sweden within Saab’s business area Security and Defence Solutions.

“Saab has substantial experience within the naval domain as supplier to warships and submarines around the world. With today’s orders and the Letter of Intent we take the next step towards becoming a full-service provider of submarines for Sweden.

It strengthens our offer and our unique competence within systems integration,” said Gunilla Fransson, Head of business area Security and Defence Solutions, Saab.

[mappress]
June 9, 2014