KONGSBERG signs contract with the Norwegian Armed Forces for bridging-phase leading to phase three development of JSM
KONGSBERG has today signed a bridging-phase contract leading to phase 3 with Norwegian Defence Logistics Organization (NDLO) for further development of the JSM (Joint Strike Missile). The contract is valued at NOK 480 million.
The JSM development phase 2 has been finalized and to ensure competence and progress between JSM phase 2 and phase 3, the Norwegian Armed Forces have signed a bridging phase contract prior to parliamentary proceedings and approval of the entire JSM development phase 3.
- The international F-35 user consortium, with the USA as the largest, is showing great interest in the JSM. Therefore we are very pleased with parliamentary support of the development and that the Norwegian government is facilitating further development through all phases, says Walter Qvam, CEO of the Kongsberg Group.
In phase 2 of the project the missile underwent detailed design and a successful integration check for the F-35 as well as for the F-16 and the F-18. In phase three the missile will be completed and ready for serial production, and there will also be produced several units that will be tested from fighter jets in several practical exercises. The JSM is the only long-range sea and land-target missile that can be carried internally in the F-35 and thus ensuring the aircrafts low-signature (stealth) capabilities. After a successful phase 3 KONGSBERG will be ready to receive orders and start serial production.
- Through phase 1 and 2 KONGSBERG tied links with several Norwegian subcontractors qualifying them for phase 3 and serial production. In phase 3 we will engage even more suppliers related to the new tasks. In future full-scale production the JSM project will provide more than 450 jobs in KONGSBERG and provide significant assignments to more than 100 subcontractors for several decades, says Harald Ånnestad, CEO of Kongsberg Defence Systems.
For further information, please contact:
Harald Ånnestad, Administrerende Direktør, Kongsberg Defence Systems, 920 60 087
Pål Bratlie, Direktør, Kongsberg Defence Systems, 930 57 243
KONGSBERG (OSE Ticker: KOG) is an international knowledge-based group that supplies high-technology systems and solutions to customers engaged in the oil and gas industry, the merchant marine industry, and the defence and aerospace industries. In 2012, the Group had operating revenues of NOK 15.7 billion, and it currently has some 7 400 co-workers in more than 25 countries.
This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.
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