Saab to design new torpedo for Swedish military

LINKOPING, Sweden, July 3 (UPI) -- Sweden's Defense Materiel Administration has tapped Saab to design a new lightweight torpedo over the next year.

The order is worth more than $7.1 million and is part of a letter of intent between Saab and the government on upgrading the underwater capability of the country's armed forces.

"We are very pleased and proud to have the continued confidence to deliver torpedo weapon systems to FMV and the Swedish Navy in the commencement of the work to deliver the replacement for Torpedo 45," said Gorgen Johansson, senior vice president and head of Saab's Dynamics business area.

Added Agneta Kammeby, vice president and head of Saab's Underwater Systems unit: "Saab Dynamics has over the years established a unique experience and expertise in developing underwater systems for shallow waters and the types of environment that exist in the Baltic Sea. Many of our systems are world leading in its segment, and with this order, we are able to maintain our global leadership position and continue to provide the market with competitive products."

Additional details about the order or the envisaged torpedo were not released.