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Cooperation agreement between SAAB AB and Simrad Optronics ASA

The parties will establish a joint venture company provided the Norwegian Ministry of Defense decides to purchase Gripen Aircraft.

Simrad Optronics ASA has signed an industrial cooperation agreement with SAAB AB. The parties will establish a joint venture company provided the Norwegian Ministry of Defense decides to purchase Gripen Aircraft.
 
The joint venture company will be located in Norway and organized as subsidiary to SOASA where SOASA will own more than 50% of the shares.
The joint venture company will develop and produce products both for the SAAB Gripen Aircraft and other business areas. SAAB and SOASA have identified possible programs for the first 10 years to more than seven billion NOK. It is expected that the joint venture company will grow to have more than 200 employees, of whom more than 50% in R&D.
 
The identified business areas includes among other tactical UAV, advanced electro optics and various platforms for radars and missiles.
 
“In addition to the possible significant growth of the SOASA group, the advanced development work will give huge opportunity to spin of other products for the defense marked. In addition a joint venture between SAAB AB and SOASA is well positioned to meet the demand of the increasing Nordic defense cooperation”, said Simrad Optronics CEO Jon Asbjørn Bø

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