Saab’s comment to the Government’s working group’s proposal to reduce the budget for defence material
Saab has taken note of the published information regarding the Government’s working group’s proposal for reducing the budget for defence material.
“The Government has already earlier pointed out its firm, long-term ambition to further develop Gripen as a base in the Swedish defence, and we are pleased to see that this ambition remains. We welcome the opportunities to further develop the system for the Swedish Air Force and have a positive view of our opportunities on the export market,” says Saab CEO Åke Svensson.
Ensuring a sustainable capacity to supply the armed forces with advanced high-tech equipment requires a balance between development where on one hand the Swedish Defence Material Administration is involved and on the other hand, purchasing already developed systems. There is also a need for balance between short and long term defence material acquisition. The defence industry is therefore an important part of the country's present and future defence capability, and is also an important frame of Sweden's high-tech industry with strong links to research and education.
The projects that will be terminated or implemented with a reduced level of ambition according to the working group may have an impact on Saabs future structure and direction. In the short, Saab assess that the impact from the announcement will be moderate. An assessment of the impact in the long term requires a deeper analysis and a better understanding of the Government's long-term focus.
Saab also notes that the Government is seeking to make defence support functions more effective and can only once again point out that this can be achieved through new partnership with the industry, for example regarding operation and maintenance.
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.
For further information, please contact:
Cecilia Schön Jansson, Group Senior Vice President, Corporate Communications and Public Affairs, +46 (0)8 463 01 80
Ann-Sofi Jönsson, Manager Investor Relations, +46 (0) 734 187 214
Saabs Press Centre, +46 (0)734 180 018
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 September 18 at 19.00.