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Swedish government and Saab sign new agreement on new generation Gripen development

Friday, 15 February 2013
Military equipment manufacturer, Saab has signed an agreement with the Swedish Defence Materiel Administration (FMV), which provides technology for Sweden's security on the development of the next version of the Gripen fighter jets, the Gripen E.

The agreement covers the development and modification of the Gripen E for Sweden the period 2013-2026 and a possible order for the new production of the Gripen E for Switzerland. FMV has placed an initial order worth Skr2.5 billion, Saab writes in a press release. Saab-gripen

Remaining orders from Sweden are expected in 2013-2014. The total value of possible orders under the agreement amounts to a total of Skr 47.2 billion.

The Swedish Parliament, has with a broad majority, decided that Sweden will acquire the Gripen E. The agreement signed leads to an initial delivery of Gripen E to Sweden in 2018.

The agreement gives FMV's right under certain circumstances for making all or part of cancellations of the contract or part. If that happens, Saab will be entitled to compensation for accrued expenses and exit costs. The agreement also governs what happens if Switzerland did not go ahead and order the Gripen E.

“This is an historic event for Saab. We are proud to continue to deliver a world-leading fighter aircraft to the Swedish Air Force. Gripen has long been the backbone of the Swedish Air Force as well as for several other countries. This next step also creates more opportunities in the export market for many years to come. Our existing customers that operate the Gripen C/D version will also be able to take advantage of some of the development in their future upgrades,” says Saab’s President and CEO Håkan Buskhe, in the press release.
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