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Cooperation agreement between Saab AB and Patria Finavitec OY

COOPERATION AGREEMENT BETWEEN SAAB AB AND PATRIA FINAVITEC OY The Swedish Saab AB (publ) and the Finnish Patria Finavitec Oy of Patria Group have signed a Memorandum of Understanding concerning co-operation in penetrating the System and Training markets for military helicopters, initially in the Nordic countries and later on the European market. The aim is, assumed positive market penetration, to establish a jointly owned entity to support helicopter suppliers and their end customers with competitive operations in respective country for helicopter training and system work, especially continuous upgrades, mainly performed by new editions of software. The business concept is built on one joint resource responsible for joint System and Training requirements with related training equipment and simulators, engineering rigs, configuration control, support of airworthiness etc. National resources could focus on the equipment with needs for daily access or national security. Saab AB and Patria Finavitec Oy have complementary competencies and resources; both companies also have considerable experience in long term business relations with the Defence Forces in the Nordic countries. Financial and technical synergies are foreseen between helicopter business and other core businesses of these two companies. The concept offers advantages such as less financial investments and other resources compared with similar facilities in each country. The co-operation is considered to have development opportunities as regards helicopter purchase projects in the Nordic countries in the near future, such as the Nordic Standard Helicopter Program, NSHP. Saab AB and Patria Finavitec Oy are open to discuss with additional partners for the future development of the concept. Saab AB is active in the aircraft-, space- and defense industry and supplies advanced products and systems based on sophisticated information technology. The business areas are Military Aerospace, Space, Training Systems, Commercial Aircraft and Combitech. Patria Industries is a Finnish technology group whose business activities include defence, aerospace and space, and telecommunications products and services. Among the most important products and services are aircraft and helicopter maintenance, aerospace structures and electronic systems, military and special vehicles, airport snow removal equipment and weapon systems. Patria Group's annual sales in 1998 totalled up to EUR 178 million and the Group employs over 2000 people. Patria Finavitec Oy, Patria Finavicomp Oy and Patria Ostermans AB form the Finavitec Business Group in Patria Group. Patria Finavitec Oy is specialised in the aerospace and electronic technologies. Further information Saab AB Saab AB Patria Finavitec Oy Ingemar Nycander Rolf Forsell Jukka Holkeri VP, General Military Director, Strategic VP, Support Planning Programs and Business Mobile:+358-50-549 4124 Development Tel. +46 13 181370 Tel +46 13 185497 Tel.+358-3-5809793 Fax +46 13 183420 Fax +46 13 183420 ------------------------------------------------------------ Please visit for further information The following files are available for download: