Celsius get contract from FMV worth MSEK 75

Contract award from FMV worth MSEK 75 First step in US-Swedish co-operation project The Celsius business unit, Bofors Weapon Systems, has been awarded a contract by the Swedish Defence Materiel Administration (FMV) as the first stage in the Swedish-American TCM co-operation project. The contract is valued at approximately MSEK 75. TCM (Trajectory Correctable Munition) is a guided, trajectory correctable artillery ammunition. The contract is for the initial work during an 18-month period and will mainly affect the R&D departments in Karlskoga. The contract will also create continuity in the Bofors Weapon Systems long term investment in intelligent ammunition. It is very unusual that the US chooses to conduct a joint defence materiel development project with an other country. The TCM project will be carried out in close co-operation with an American industrial partner namely, Science and Applied Technology Inc. This contract underlines the leading position of Bofors Weapon Systems as a supplier of intelligent ammunition and is a further step in the development of international co-operation by the Celsius Group. For further information, please contact Kjell Göthe, Vice President/Group Communications, on + 46 (0)8 - 463 00 19 or + 46 (0)70 - 583 95 44 (mobile). Celsius is an international advanced-technology and knowledge based corporation, which in close interaction with its customers develops, manufactures and maintains advanced systems, products and services within core areas Defence and Aviation Services. Based on a platform of comprehensive competence, new businesses with strong growth potential are developed for the military and commercial markets. Celsius, with sales of about SEK 14 billion, has some 11 000 employees. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/16/19990916BIT00460/bit0001.pdf http://www.bit.se/bitonline/1999/09/16/19990916BIT00460/bit0002.doc