STOCK TITAN

BAE Systems’ New CV90 Combat Support Vehicles Delivered to Norway

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary

BAE Systems has delivered the first four of 20 modernized CV90 combat support vehicles to the Norwegian Armed Forces in a ceremony in Levanger, Norway. This delivery reflects successful collaboration with Ritek AS and the Norwegian Defense Materiel Agency. The project supports Norwegian jobs and has involved around 20 local companies as suppliers. The Norwegian CV90 fleet is noted to be among the most advanced in the world. Ritek's new assembly hall enhances production capabilities for current and future defense projects.

Positive
  • Successful delivery of first four CV90 vehicles out of 20 planned.
  • Partnership with local company Ritek enhances Norwegian job support.
  • Engagement of about 20 Norwegian companies in the supply chain.
  • Norwegian CV90 vehicles recognized as among the most advanced globally.
  • New assembly hall at Ritek increases production capabilities.
Negative
  • None.

LEVANGER, Norway--(BUSINESS WIRE)-- The first CV90 combat support vehicles were delivered to the Norwegian Armed Forces during a ceremony hosted by local industry partner Ritek AS in Levanger, Norway. The four vehicles are the first of 20 modernized CV90 engineering vehicles BAE Systems will deliver, in partnership with Ritek and the Norwegian Defense Materiel Agency.

The four CV90 vehicles are the first of 20 modernized CV90 engineering vehicles BAE Systems will deliver, in partnership with Ritek and the Norwegian Defense Materiel Agency. (Credit: BAE Systems)

The four CV90 vehicles are the first of 20 modernized CV90 engineering vehicles BAE Systems will deliver, in partnership with Ritek and the Norwegian Defense Materiel Agency. (Credit: BAE Systems)

“While rebuilding these vehicles, it has been important for the government that Norwegian jobs are supported,” said Bent Joacim Bentzen, the State Secretary in the Ministry of Defense. “This has been possible thanks to a smooth and well-functioning collaboration between the Armed Forces, Defence Material Agency, Ritek, and the licenser BAE Systems Hägglunds.”

Partnering with the Norwegian defense industry was a key factor in getting the contract signed and the vehicles into production quickly, under measures implemented by the Norwegian parliament to support the country’s economy through the challenges posed by the coronavirus pandemic.

BAE Systems serves as the main supplier, while Ritek plays a central role in purchasing, logistics, final assembly, and integration. Ritek has also been responsible for coordinating the project and growing the participation of Norwegian industry. As a result, about 20 Norwegian companies are now qualified suppliers of products and components for the CV90 vehicles, and an integral part of BAE Systems’ Norwegian supply chain.

“This is an example of how it is possible to achieve fast deliveries through well-functioning cooperation,” said Gro Jære, Director of the Defence Material Agency. “Just over a year after the contract was signed, we can now confirm that we are in the process of delivering the latest production series of CV90-based combat support vehicles to the Armed Forces. I would like to thank BAE Systems, Ritek, and my project staff for their flexibility, focus on delivery, and effort so far.”

The close cooperation between all parties has broadened Norway’s overall national capacity in the defense vehicle space and its preparedness to support the vehicles. The Norwegian CV90 fleet is fully digitalized, and among the most advanced combat vehicles in the world.

“Norway should be proud of its ability to work with political leaders, procurement authorities, and industry to innovate and meet challenges like COVID-19 in a world of uncertainty,” said Tommy Gustafsson-Rask, managing director of BAE Systems Hägglunds. “Yet again, this milestone project demonstrates the strength of the relationships between all partners by delivering high-quality vehicles, on time and on cost.”

The delivery ceremony coincided with the completion of Ritek’s new assembly hall for the CV90 project, which increases the total workshop area to 5,500 square meters. The hall is designed to meet all requirements for lifting capacity and flexibility in Ritek’s existing defense-related project portfolio and for future projects.

For additional information, please contact:

Ola Thorén, BAE Systems Hägglunds

Office: +46 660 80506

Mobile: +46 708 335000

ola.thoren@baesystems.se

www.baesystems.com

@BAESystemsInc

Source: BAE Systems, Inc.

FAQ

When did BAE Systems deliver the CV90 vehicles to Norway?

The delivery of the CV90 vehicles occurred during a ceremony in Levanger, Norway.

How many CV90 vehicles will BAE Systems deliver to Norway?

BAE Systems will deliver a total of 20 modernized CV90 combat support vehicles.

What role does Ritek play in the CV90 project for Norway?

Ritek is responsible for purchasing, logistics, final assembly, and integration of the CV90 vehicles.

What is the significance of the CV90 delivery to the Norwegian Armed Forces?

The delivery supports local jobs and enhances Norway's defense vehicle capabilities.

What companies are involved in the CV90 vehicle supply chain?

Around 20 Norwegian companies are qualified as suppliers for the CV90 vehicles.

BAE SYSTEMS PLC S/ADR

OTC:BAESY

BAESY Rankings

BAESY Latest News

BAESY Stock Data

49.24B
755.04M
2.62%
Aerospace & Defense
Industrials
Link
United States of America
Camberley