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Saab AB (SAABY) delivers cutting-edge defense and security solutions across aeronautics, sensor technologies, and command systems. This news hub provides investors and industry professionals with timely updates on SAABY's strategic developments and operational milestones.
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Saab (SAABY) has secured a significant framework agreement with the Latvian Ministry of Defence for their RBS 70 NG short-range ground-based air defence system. The initial order, valued at SEK 2.1 billion, includes RBS 70 NG firing units, missiles, and trainer units, with deliveries scheduled for 2026-2030.
The RBS 70 NG system is equipped with advanced features including an automatic target tracker and built-in night sight. It can effectively counter aerial threats such as aircraft, drones, and missiles at ranges up to nine kilometers. This capability enhancement aligns with Latvia's efforts to strengthen its national air defense infrastructure.
Saab North America, Inc., a U.S. subsidiary of Saab, has received a subpoena from the U.S. Department of Justice (DoJ) requesting information about Brazil's 2014 acquisition of 36 Gripen E/F fighter aircraft. This relates to Brazil's FX-2 fighter procurement program (2008-2014) where Saab won the contract. Saab intends to comply with the request and cooperate with the DoJ.
Previous investigations by Brazilian and Swedish authorities into parts of the procurement process were closed without indicating any wrongdoing by Saab. Due to secrecy obligations, Saab cannot provide further details on this matter.
