STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Defence and security company Saab has signed a contract with LIG Nex1 for the localisation of Saab’s naval ESM system for the South Korean second batch of Class 214 submarines. The order value is close to MEUR 11 (approximately MSEK 114).
The contract, which sees LIG Nex1 localise parts of the Saab ESM (Electronic Support Measures) system, is for the delivery of ESM systems to Howaldtswerke-Deutsche Werft GmbH (HDW) for the South Korean Navy’s second batch of Class 214 submarines.
“This contract underlines our capabilities in naval ESM systems and our good relationship with both LIG Nex1 and HDW. It also creates a new promising partnership with one of the biggest defence companies in South Korea,” says Micael Johansson, business unit manager, Saab Avitronics.
As the main contractor LIG Nex1 takes full responsibility for the ESM system. The co-establishment of an Integrated Test Bench, used for system acceptance and maintenance, at the LIG Nex1 production facilities in Gumi, South Korea, will also ensure future support of the system.
“This fruitful partnership with the South Korean industry and excellent relationship with the South Korean Navy creates a foundation which in partnership with LIG Nex1 will ensure continued success,” says Micael Johansson.
Saab was contracted in 2002 and successfully delivered ESM systems from its South African operations to HDW for the first batch of Korean Class 214 submarines. This second contract once again confirms Saab’s position as a world leader in ESM and ELINT (Electronic Intelligence) systems for non-nuclear submarines. Saab’s submarine ESM systems have been sold and delivered to Greece, South Korea, Portugal and South Africa.
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 December 29 at 10.30.
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