July 9, 2014 12:37 UTC

Saab and EDA Sign Framework Agreement for Providing Carl-Gustaf Ammunition to Five European Countries

LINKÖPING, Sweden--(BUSINESS WIRE)-- Regulatory News:

Defence and security company Saab (STO:SAABB) and European Defence Agency (EDA) have signed a framework agreement for potential orders of Carl-Gustaf ammunition to Estonia, Latvia, Lithuania, the Czech Republic and Poland. The agreement will last five years and includes a possible renewal of two more years. The agreement includes potential orders of approximately MSEK 460.

European Defence Agency (EDA) acts as the central purchasing body, taking the leading role in the procurement procedure for Carl-Gustaf ammunition to Estonia, Latvia, Lithuania, the Czech Republic, and Poland. The agreement aims to co-ordinate the purchase of Carl-Gustaf ammunition between several member countries to meet their demand due to the commonalities in ammunition.

“This is a good possibility for several countries to procure high quality ammunition for their Carl-Gustaf in an effective and cost efficient way. The first orders are however estimated no earlier than 2015”, says Görgen Johansson, Senior Vice President and Head of Saab’s Business Area Dynamics.

The Carl-Gustaf system has a long and successful history. The system has successively been modernized and adapted to meet new requirements. With the latest version Carl-Gustaf M3, Saab offer state-of-the-art capability for customers demanding high operational reliability in all conflict situations.

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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 July 9, 2014 at 14.00.

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Source: Saab