Saab Wins US$ 184 Million Contract For Lightweight Torpedo

Saab has received an order from the Swedish Defence Material Administration (FMV) for the development and production of New Lightweight Torpedo system.

The total order value amounts to approximately SEK1.53 billion (US$ 184 million) and deliveries will take place during the period 2016-2024.

The order comes under the terms of the Letter of Intent (LoI) between Saab and FMV that was announced on June 9, 2014. The LoI supports the Swedish Armed Forces’ underwater capabilities for the period 2015-2024.This order connects to the previous orders from FMV announced in July 2014 and February 2015 for New Lightweight Torpedo.

“We are proud to have the continued confidence to deliver a new torpedo weapon system to FMV and the Swedish Navy. Where by this the replacement for Torpedo 45 begins”, says Görgen Johansson, head of Saab business area Dynamics.

“Many of Saabs underwater systems are world leading in its segments and with this order we are strengthening our position further,” says Görgen Johansson.