Saab Secures $159 Million German Contract for Missile Modernisation

Swedish defense company Saab has secured a 1.7 billion crown ($159 million) contract from Germany to modernise and maintain Taurus KEPD 350 cruise missiles. The agreement involves system upgrades and a ten-year maintenance period, covering 2025-2035, facilitated by Saab's joint venture, Taurus Systems.

On Monday, Sweden's Saab announced it had secured a significant contract with Germany, valued at 1.7 billion crowns ($159 million), for the modernisation and maintenance of the Taurus KEPD 350 cruise missiles.

The contract, set to run from 2025 to 2035, will see substantial system upgrades and a decade-long life cycle maintenance of the German Air Force's TAURUS missiles, as detailed in Saab's statement.

This order was facilitated by Taurus Systems, a joint venture established by MBDA Germany and Saab, after receiving the directive from Germany's defense procurement office. The current exchange rate places $1 at 10.7010 Swedish crowns.

(With inputs from agencies.)