The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

Companies News

Switzerland continues forward in their approval for the purchase of 22 Gripen

Wednesday, 11 September 2013
The Swiss Parliament's main chamber, the National Council has voted positively in favour of buying 22 Swedish Saab made Gripen fighter jets. This vote has been highly anticipated by the Swedish authorities in order to have confident in the project.

According to media reports in Sweden, later today, the House will also vote on the financing of the purchase, which has been pitted to cost 3.1 billion Swiss francs, equivalent to Skr23 billion.
The voting figures were 119 of the yes side and 70 on the no side. As in any organisation, there were 5 who abstained.Saab Gripen

The news meant that Saab's shares immediately take a small hop on the Stockholm Stock Exchange and leapt 1.8 percent.

During a debate before the votes, a number of critical voices, from parliamentarians who do not want to buy any fighter jet at all to those who wanted to buy fighters jets, but are sceptical of the Gripen jets were heard.

Defence Minister Ueli Maurer, who is currently the president of Switzerland, defended the choice:

"It's not the most expensive option and not the best but the Gripen is a technically sound plan that meets our requirements, "said Maurer.

There are however more bureaucratic moves still left to be carried out before the deal is finally confirmed. For instance, the small chamber, or Council of States will have to take a vote to approve the financing of the purchase.

A poll last weekend found that 63 percent of the Swiss did not want Gripen - and no other fighter jets either. Only 40 percent of the Swiss think that the country needs to buy new fighter jets.

These developments are making Saab share, a stock market losers so far this year, shortly after the decision to go up by 1.8 percent.
By Scancomark.com Team

Print Friendly and PDF

Did you spot any error or had any problem with the above article. Please contact us