LINKÖPING, Sweden--(BUSINESS WIRE)--Regulatory News:
On 27 October 2014 Saab (STO:SAABB) announced the conclusion of a contract with the Brazilian Federal Government for the development and production of 36 Gripen NG aircraft. The contract has now come into effect as all required conditions have been fulfilled. Today, the order value of approximately SEK39.3 billion is booked by Saab as order intake. Gripen NG deliveries to the Brazilian Air Force will be undertaken from 2019 to 2024
The associated industrial co-operation contract (including technology transfer to Brazilian industries), which was signed in October 2014, also comes into effect today.
“Through the Gripen NG programme, we continue to build on the industrial relations between Brazil and Sweden. I am confident that this important programme will serve as a platform for new business and contribute to the growth of both the Brazilian and Swedish industry,” says Marcus Wallenberg, Chairman of Saab’s Board of Directors.
“This important milestone marks the formal start to the Brazilian Gripen NG programme. We will now work full speed ahead to ensure timely deliveries of Gripen NG to Brazil. Our partnership with Brazilian industry strengthens Saab’s position in Latin America and supports our strategy for growth through industrial co-operation,” says Håkan Buskhe, President and CEO of Saab.
The technology transfer programme will further contribute to the development of an independent, advanced defence industrial base in Brazil. Brazilian engineers and technicians will come to Saab for education and on-the job-training in Sweden starting in October 2015.
“The acquisition of Gripen NG will provide benefits beyond the enlargement of the Brazilian Air Force’s operational capacity. In addition to equipping FAB with one of the world's most modern fighters, the participation in the development of Gripen NG means a technological breakthrough for Brazilian industry,” says Lieutenant-Brigadier Nivaldo Luiz Rossato, Commander of the Brazilian Air Force.
Saab’s Gripen is a multi-role combat aircraft capable of undertaking the full range of air-to-air and air-to-ground missions, including specialist roles such as intelligence, surveillance, target acquisition and reconnaissance (ISTAR) and electronic warfare. Gripen is equipped with the most modern sensors and mission systems, including an active electronically scanned array (AESA) radar and infra-red search and track (IRST) system. It can be armed with any air-launched weapon that a customer requires, and integration of new capabilities is speedy and affordable. Gripen is easily deployable, with a very low maintenance and support footprint coupled with high reliability.
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.
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 10 September 2015 at 01.00 (CET).
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