The purpose of the Agreement is seeking to enable the delivery of enhanced capabilities to customers by leveraging the companies’ collective unique strengths through offering a broader range of products, services and integrated solutions.
Under the Agreement, the companies will explore the development of the design of a new advanced corvette of around 100 metres. The joint development will benefit from Babcock’s expertise in platform design and integration to create a new class-leading capability, and Saab’s expertise in naval Combat Management Systems and composite structures.
The new corvette will be a highly capable and adaptable surface combatant aimed at meeting the needs of international customers. Babcock and Saab intend to jointly market the new design to worldwide export markets.
Babcock CEO, David Lockwood, said: “This is the beginning of an exciting new relationship between Babcock and Saab. It recognises the potential to jointly offer a wider range of integrated solutions to international customers and builds on the strong cultural and technical links between the two Groups.”
Micael Johansson, President and CEO of Saab, said: “We have complementary capabilities and resources, including expertise, technologies and market presence that can enhance our competitive advantage when combined. By combining our capabilities and resources, we recognise the potential to leverage each other’s strengths.”
By combining technology capabilities and expertise to drive technological advancements, Babcock and Saab will stay at the forefront of their industries.