Kockums receives order from FMV worth about SEK 270 M

Kockums receives order from FMV worth about SEK 270 M Two corvettes to be modernized Kockums has received an order from the Swedish Defence Materiel Administration (FMV) for a general refit and mid-life upgrade of Swedish Navy corvettes HMS Stockholm and HMS Malmö, which were built at the Karlskrona shipyard at the beginning of the 1980s. The order is worth approximately SEK 270 M. In addition to the general refit, the corvettes will undergo a technical upgrade, with the main focus on the propulsion system, involving new gas turbines and gears. The upgrade will also include installation of a new command-and-control system and new sensors. Furthermore, the corvettes will be modified to reduce their radar signature, and their ability to conduct international assignments will be improved. The project organization is now being formed, and design work will be started immediately. The vessels are to be recommissioned in February and August 2002 respectively. The work will be carried out at the Karlskrona shipyard. For more details, please contact Kjell Göthe, vice president/Corporate Communications, Kockums, on +46 (0)40-34 82 88 or via mobile phone on +46 (0)70-583 95 44. Kockums and Germany's HDW (Howaldtswerke Deutsche Werft AG) have recently announced a merger of their operations. This creates a new company which is the global leader in conventional (non-nuclear) submarines and naval surface vessels. First, however, the deal must receive the formal approval of the European Commission. Celsius owns 25 per cent in the new Kockums-HDW. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/24/19991124BIT00040/bit0001.doc http://www.bit.se/bitonline/1999/11/24/19991124BIT00040/bit0002.pdf