LINKÖPING, Sweden--(BUSINESS WIRE)--Regulatory News:
Defence and security company Saab (STO:SAABB) has received an order for weapon locating system ARTHUR from LIG Nex1 which is the prime contractor towards Defence Acquisition Program Administration, Republic of Korea. The order is worth MSEK 450.
“We are delighted to have received this important additional order from South Korea that further proves our customer’s confidence in the capabilities of our weapon locating system ARTHUR, says Micael Johansson, Senior Vice President and Head of Saab’s business area Electronic Defence Systems.
ARTHUR is a stand alone C-band medium-range weapon-locating system that detects and locates enemy fire. It utilises a passive phased-array antenna technology for optimised battlefield performance. The technology provides the perfect balance between mobility, range, accuracy, ECCM (Electronic counter-countermeasures), operational availability and operational cost. The ARTHUR system is widely used by demanding customers around the world. Examples of customers are Czech Republic, Denmark, Greece, Norway, Spain, Sweden and UK. More than 60 ARTHUR units have been sold and their availability is well proven from thousands of hours’ operation. The first ARTHUR order from South Korea came in 2007.
The system is developed by Saab in Gothenburg, Sweden. The main part of the production for this program will be done at LIG Nex1 under a localisation agreement between Saab and LIG.
LIG Nex1 Co. Ltd. develops and produces a wide range of advanced precision electronic systems including missile, underwater weapon systems, radars, electronic warfare, avionics, tactical communication systems, fire control systems, naval combat systems, and electro-optics. The company was founded in 1976 and is based in Seoul, South Korea.
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 31 January at 08.30.
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.
This information was brought to you by Cision http://www.cisionwire.com