STOCK TITAN

BAE Systems Secures New Support and Services Model for Norway’s CV90 Fleet

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

BAE Systems has signed a seven-year support agreement with the Norwegian Army for its 144 CV90 Infantry Fighting Vehicles. This contract aims to enhance the fleet's readiness and modernization. The agreement includes component purchases, management, and engineering services, ensuring optimal vehicle performance through a System Integration Lab. BAE Systems Hägglunds, in collaboration with Norwegian industry partners, aims to keep the CV90 among the most advanced in service by implementing continuous upgrades. The contract also aligns with Norway's defense capabilities amid evolving threats.

Positive
  • Secured a seven-year agreement with the Norwegian Army for the CV90 fleet.
  • Agreement includes maintenance, components purchase, and engineering services, enhancing vehicle readiness.
  • Collaboration with Norwegian industry to ensure continuous upgrades and modernization.
Negative
  • None.

ÖRNSKÖLDSVIK, Sweden--(BUSINESS WIRE)-- BAE Systems has signed a new support, sustainment, and readiness agreement with the Norwegian Army for its fleet of 144 CV90 Infantry Fighting Vehicles, securing a new contract model to support the availability and continuous modernization of the fleet.

BAE Systems’ new sustainment and readiness agreement will support the Norwegian Army’s fleet of 144 CV90 Infantry Fighting Vehicles in service in five variants. (Photo: BAE Systems)

BAE Systems’ new sustainment and readiness agreement will support the Norwegian Army’s fleet of 144 CV90 Infantry Fighting Vehicles in service in five variants. (Photo: BAE Systems)

The seven-year agreement with the Norwegian Defence Logistics Organisation governs the purchase of components and equipment, as well as management and engineering work. It includes maintenance of the System Integration Lab, which ensures that both the customer and BAE Systems can monitor vehicles’ current conditions and state of readiness to optimize vehicle performance and capabilities across the fleet.

“We are pleased to sign this contract to further secure the CV90 fleet for the future, both for ongoing sustainment and incremental capability upgrades,” said Maj. Gen. Lars Christian Aamodt, head of the Norwegian Defence Logistics Organisation. “We have today one of the world’s most modern Infantry Fighting Vehicles able to advance combined arms with air and sea systems. With this contract we aim to stay in this position for many years to come.”

This incremental upgrades and continuous improvements model, carried out as a combined effort between the Norwegian Army, local industry, and BAE Systems Hägglunds, will keep the combat-proven CV90 among the world’s most advanced Infantry Fighting Vehicles in service.

“We look forward to strengthening the trust and cooperation we have with our Norwegian customer, and building on the positive experiences with our Norwegian industry partners who are an essential part of this contract,” said Tommy Gustafsson-Rask, managing director of BAE Systems Hägglunds, which manufactures the CV90. “We are committed to going the extra mile to serve our Norwegian customer, along with other countries who operate the vehicle, who all benefit from being part of the CV90 User Club.”

BAE Systems Hägglunds, based in Örnsköldsvik, Sweden, is currently working closely with its Norwegian industry hub, including small and medium-sized businesses, to deliver 20 additional new CV90s to the Norwegian Army. The order includes engineering and multi-carrier variants as part of its effort to grow and modernize in the face of evolving threats.

Norway is one of seven European users operating the CV90. The others are Denmark, Estonia, Finland, Switzerland, Sweden, and the Netherlands. With close to 1,300 vehicles in service in multiple variants, the vehicle is designed to accommodate future growth to meet evolving missions.

Ola Thorén, BAE Systems Hägglunds

Office: +46 660 80506; Mobile: +46 708 335000

ola.thoren@baesystems.se

Rebecca Surtees,

BAE Systems, Inc.

Mobile: +44 (0)7825 948274

rebecca.surtees@baesystems.com

www.baesystems.com

@BAESystemsInc

Source: BAE Systems

FAQ

What is BAE Systems' recent agreement with the Norwegian Army?

BAE Systems has signed a seven-year support agreement with the Norwegian Army for its 144 CV90 Infantry Fighting Vehicles.

How will the CV90 Infantry Fighting Vehicles be supported?

The vehicles will be supported through component purchases, management, and engineering services outlined in the agreement.

What is the duration of the new contract signed by BAE Systems?

The contract signed by BAE Systems is for a duration of seven years.

How does this agreement affect the CV90 fleet's performance?

The agreement aims to optimize vehicle performance and capabilities across the fleet through continuous modernization.

What is the significance of the System Integration Lab in the new agreement?

The System Integration Lab allows both the Norwegian Army and BAE Systems to monitor vehicle conditions and readiness.

BAE SYSTEMS PLC S/ADR

OTC:BAESY

BAESY Rankings

BAESY Latest News

BAESY Stock Data

54.19B
2.89B
2.72%
Aerospace & Defense
Industrials
Link
United States of America
Camberley