Saab Bofors Underwater Systems and the Brazilian Navy terminate torpedo project
Saab Bofors Underwater Systems and the Brazilian Navy terminate torpedo project Following negotiations, Saab Bofors Underwater Systems and the Brazilian Navy have reached an agreement to terminate the torpedo project started in 1999. The decision is mainly a consequence of integration difficulties due to third party proprietary rights. The termination agreement is covered in its details by commercial confidentiality but will entail termination costs for Saab Bofors Underwater Systems. The termination costs are presently being calculated but are expected to burden the income statement by not