Saab receives orders from FMV and has signed a Letter of Intent regarding underwater systems

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 MSEK 467. 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 SEK 11.2 billion.

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. The total order value amounts to MSEK 467.

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 and FMV have also signed a Letter of Intent regarding the Swedish armed forces’ underwater capability for the period 2015-2024. It comprises support, development, design and production of submarines and other underwater systems. The Letter of Intent includes potential orders of approximately SEK 11.2 billion, provided that necessary decisions are made.

"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,” says Gunilla Fransson, Head of business area Security and Defence Solutions, Saab.

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.

For further information, please contact:

Saab Press Centre, +46 (0)734 180 018, presscentre@saabgroup.com

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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 June 9, 2014 at 08.00 (CET).

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