STOCKHOLM (dpa-AFX) - Swedish defence and security group Saab AB (SAABF, SAABY, SAABb.ST) Thursday announced award of a contract worth about 8.7 billion Swedish kronor with Shipbuilder TKMS Group (TKMSF) to supply systems for four new German Navy frigates.
As per the agreement, Saab will provide combat management systems, radar, and composite superstructures for the MEKO A-200 DEU class vessels. Deliveries are scheduled from 2029 to 2032.
The agreement also includes an option for additional ships. Work will be carried out in Germany, where TKMS is the prime contractor. Saab's package covers its 9LV combat system, fire control, Sea Giraffe 4A and 1X radars, and passive sensors.
On the Stockholm stock exchange, shares of Saab were losing 0.23 percent, changing hands at 519.20 Swedish kronor.
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