Monday May 28, 2007
Saab says value of order in Pakistan down $197 mln
STOCKHOLM, May 28 (Reuters) - Defence and aerospace group Saab AB said on Monday it had agreed to a cut in the value of an airborne surveillance system contract in Pakistan of around 1.35 billion Swedish crowns ($197.2 million). The initial order value was 8.3 billion crowns, a Saab spokesman said.
The Swedish firm said in a statement its customer had for financial reasons and in accordance with the original contract asked to renegotiate a part of the contract concerning a reduction of the number of systems.
"Income will decrease proportionally to the volume change, but other commercial terms and conditions will remain unchanged. Concerning the fiscal year 2007 there is no impact on turnover or income as a result of the new conditions," Saab said.
http://asia.news.yahoo.com/070528/3/32ivu.html
Saab says value of order in Pakistan down $197 mln
STOCKHOLM, May 28 (Reuters) - Defence and aerospace group Saab AB said on Monday it had agreed to a cut in the value of an airborne surveillance system contract in Pakistan of around 1.35 billion Swedish crowns ($197.2 million). The initial order value was 8.3 billion crowns, a Saab spokesman said.
The Swedish firm said in a statement its customer had for financial reasons and in accordance with the original contract asked to renegotiate a part of the contract concerning a reduction of the number of systems.
"Income will decrease proportionally to the volume change, but other commercial terms and conditions will remain unchanged. Concerning the fiscal year 2007 there is no impact on turnover or income as a result of the new conditions," Saab said.
http://asia.news.yahoo.com/070528/3/32ivu.html
