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Saab Signs Contract with United Arab Emirates for Airborne Surveillance System

Dépèche transmise le 17 novembre 2009 par Business Wire

STOCKHOLM--(BUSINESS WIRE)--Regulatory News:

Defence and security company Saab (STO:SAABB) has signed a contract for the sale of an airborne surveillance system to the United Arab Emirates (UAE). The contract is worth approximately 1.5 billion SEK.

The contract covers two Saab 340 AEW (Airborne Early Warning) systems, comprising of the Saab 340 aircraft equipped with the advanced Erieye radar system. The contract also includes ground equipment as well as logistics and support services. Together with associated ground equipment, the system will provide a detailed situational picture that can be used in conjunction with, for example, border control and rescue operations.

"We've been conducting discussions with the UAE for several years concerning an airborne surveillance system," says Saab's CEO Åke Svensson. "This contract is an additional proof of our expertise and international competitiveness within the field of network-based solutions for defence and civil security."

Saab's Erieye surveillance system is a market success. The first Erieye surveillance system was delivered to the Swedish Air Force on a Saab 340 aircraft platform. The system has also been sold to Thailand with the Saab 340 as a platform, and this time the United Arab Emirates. The radar system has also been installed on the Embraer-145 aircraft and is operational in Brazil, Mexico and Greece. The system will soon be delivered to Pakistan on Saab 2000 aircraft.

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.

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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 November 17 at time 13.15.

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