Sweden hands UK's BAE extra $500 million order for more artillery systems
Reuters
Published Sep 13, 2023 14:19
LONDON (Reuters) - Britain's biggest defence company BAE Systems (LON:BAES) won a $500 million contract to provide Sweden with an additional 48 ARCHER artillery systems, in a deal finalised at the DSEI arms fair in London on Wednesday.
BAE's mobile ARCHER system, which is produced by the company's Bofors unit in Sweden, is also being supplied to Britain, while Sweden has also donated it to Ukraine.
"This important milestone establishes ARCHER as the basis of the Swedish Army’s new divisional artillery forces," said Lena Gillström, president of BAE Systems Bofors.
For Sweden, the ARCHER systems will be built onto a Rheinmetall MAN military vehicles with first delivery to the Swedish Army in 2025.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.