Saab Gets Potential $445M Military Rifle Ammo Delivery Contract; Erik Smith Quoted

Saab has received a potential $445 million contract to supply ammunition for a disposable weapon system and a recoilless rifle to support the U.S. Army, Marine Corps and special forces. The framework agreement includes an initial $83 million order for AT4 and Carl-Gustaf rifle ammunition which will be reflected in Saab™s second quarter 2019 earnings, the company said Wednesday.

The AT4 family of lightweight disposable weapon systems includes platforms with high-explosive as well as anti-armor, structure and personnel functionalities. Carl-Gustaf M4 is a man-portable and multi-role rifle suited for various ammunition types.

Erik Smith, president and CEO of Saab’s U.S. defense and security arm, said the agreement will help expand the U.S. military™s capabilities and improve combat efficiency. Saab has provided over 600,000 AT4 systems to the nation™s armed forces since 1987.

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