February 15, 2013 / 6:21 AM / 5 years ago

BRIEF-Saab wins Gripen jet development order from Sweden

STOCKHOLM, Feb 15 (Reuters) - Saab AB : * signed an agreement with the Swedish Defence Materiel Administration (FMV) for Gripen E. * includes development and modification of Gripen E for Sweden during 2013-2026, and a possible order for new production of Gripen E from Switzerland * FMV has today placed an initial development order of SEK 2.5 billion for operations during 2013-2014. Remaining orders from Sweden are expected in 2013-2014 * Swedish Parliamenthas decided Sweden will acquire Gripen E. The agreement signed leads to an initial delivery of Gripen E to Sweden in 2018 *In Switzerland, a possible acquisition of 22 Gripen E is to be processed in the parliament. The agreement therefore includes provisions of delivery of 22 brand new Gripen E, and related equipment toSwitzerland, if Switzerland decides to acquire Gripen E * All orders under the agreement, including a possible order from Switzerland via FMV, amounts to a total value of approximately SEK 47.2 billion and will be booked when each order is received * The agreement includes rights for FMV to fully or partly make cancellations. * The agreement also includes sections regulating the conditions should Switzerland decide not to acquire Gripen E

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