Norway and USA agree to collaborate on integration of Joint Strike Missile (JSM) on F-35

Norway and USA agree to collaborate on integration of Joint Strike Missile (JSM) on F-35. This opens great opportunities for KONGSBERG and other Norwegian industry.

Today Defence Minister Espen Barth Eide announced that the Norwegian Government has decided to start the process to finalize the development of JSM and integration on F-35. The decision comes as a consequence of Secretary of Defense Leon Panetta’s confirmation of US support for integration.

Through the development of the Naval Strike Missile (NSM), the Norwegian Armed Forces has established KONGSBERG and other Norwegian industry in the top tier as a supplier of long-range, precision strike missiles that will meet military requirements in a 20 to 30-year perspective.

“It is of great importance that the US authorities have confirmed their support for the integration of the JSM on the F-35. In doing so, the operational needs of the Norwegian Armed Forces and international partners will be met. Furthermore, this will be an important contribution to the industrial content of the F-35 procurement. JSM is the world leader in its category and further strengthens the F-35's operational capacity", states Walter Qvam, CEO of KONGSBERG.

“KONGSBERG has involved a number of Norwegian subcontractors in the first phases of the JSM development. Today's decision for the integration of JSM on F-35 open up new opportunities for a long-term Norwegian industrial success that may be worth as much as NOK 25 billion. In future full-scale production, the JSM programme could translate into 450 jobs at KONGSBERG and significant assignments for more than 100 Norwegian subcontractors for several decades", comments Harald Ånnestad, president of Kongsberg Defence Systems.

As part of the JSM development programme, new operational capabilities will be developed and tested for subsequent upgrading of KONGSBERG's Naval Strike Missile (NSM). The NSM is now in production for the Armed Forces of Poland and Norway.

For further information, please contact:

President Harald Ånnestad, Kongsberg Defence Systems – mobile: (+47) 920 087.

Executive Vice President Pål Bratlie, Kongsberg Defence Systems – mobile: (+47)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 2011, the Group had operating revenues of NOK 15.1 billion, and it currently has some 6 700 co-workers in more than 25 countries.

This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.