LINKÖPING, Sweden--(BUSINESS WIRE)--Regulatory News:
Following the Memorandum of Understanding announced on 11 July 2014, Saab (STO:SAABB) and Embraer have today signed an agreement that establishes a partnership for joint management of the F-X2 Project for the Brazilian Air Force. The partnership agreement is part of Saab’s commitment to deliver industrial co-operation in relation to the F-X2 project. Under this agreement, Embraer will have a leading role in the overall programme performance of the programme. Embraer will also undertake an extensive share of work in the production and delivery of both the single- and two-seat versions of the Gripen NG, Brazil’s next-generation fighter jet.
Embraer will be responsible for extensive work packages in systems development, integration, flight test, final assembly and aircraft deliveries. Embraer will also participate in the coordination of all development and production activities in Brazil. Furthermore, Embraer and Saab will be jointly responsible for the complete development of the two-seat version of the Gripen NG.
Beginning in the second half of 2015, a team of Embraer engineers and technicians will be based in Sweden to conduct initial training in the maintenance and development work for the Gripen NG. This skill and competence will subsequently be transferred to Brazil.
Embraer and Saab will build an Engineering Centre at Embraer's industrial plant in Gavião Peixoto, in the state of São Paulo, to support operations of the Gripen NG fighters with the Brazilian Air Force.
“With this agreement, Embraer and Saab establish a long-term partnership on a strategic project for Brazil and for the Brazilian Air Force,” says Jackson Schneider, president and CEO of Embraer Defense & Security.
“The Gripen NG will increase the operational standard of our Air Force, enabling it with the appropriate means to fulfill its primary mission, which is the defense of our territory”, says Schneider.
“Through this partnership we will secure an excellent result for the Brazilian Air Force and we will establish solid ground for success with future business opportunities and customers. Not only do we share experience in the defense and aeronautical markets, but both organisations have a clear dedication to customer satisfaction that validates Gripen as the most capable and modern fighter system on the market”, says Lennart Sindahl, Deputy CEO at Saab.
“The Brazilian Air Force sees with great enthusiasm this additional incentive to the Brazilian industry, through the companies of the defense sector. This new strategic partnership confirms that we are building a promising future. The defense industry needs to be increasingly strengthened as it is one of the main drivers of scientific and technological development of our country”, said Aeronautics Commander, Air Force Brigadier General Nivaldo Luiz Rossato.
The implementation of the partnership for joint programme management between Saab and Embraer is subject to the F-X2 contracts between Saab and COMAER becoming effective. The contract between Saab and COMAER for Gripen NG and the associated Industrial Co-operation contract will come into effect once certain conditions have been fulfilled. These conditions are expected to be fulfilled during the first half of 2015.
The Gripen NG is a true multi-role fighter aircraft, based on the proven Gripen C/D platform. It is built to adapt to all of the changing threats and operational requirements currently faced by modern air forces. Gripen’s combination of very advanced operational capabilities with moderate through-life costs make the fighter absolutely unique on the world market.
Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers’ changing needs.
Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) is the world’s largest manufacturer of commercial jets up to 130 seats, and one of Brazil’s leading exporters. Embraer’s headquarters are located in São José dos Campos, São Paulo, and it has offices, industrial operations and customer service facilities in Brazil, China, France, Portugal, Singapore, and the U.S. Founded in 1969, the Company designs, develops, manufactures and sells aircraft and systems for the commercial aviation, executive aviation, and defense and security segments. It also provides after sales support and services to customers worldwide. For more information, please visit www.embraer.com.br.
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 14 April 2015 at 20.30 (CET).
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