Kongsberg Gruppen Gets NOK480 Million Deal To Further Develop Missile

   By Dominic Chopping 
 

Norwegian conglomerate Kongsberg Gruppen ASA (KOG.OS) said Friday it has received a NOK480 million contract from the Norwegian Defence Logistics Organization (NDLO) to further develop the Joint Strike Missile (JSM).

 
   MAIN FACTS: 

-The JSM development phase 2 has been finalized and to ensure competence and progress between JSM phase 2 and phase 3, the Norwegian Armed Forces have signed a bridging phase contract prior to parliamentary proceedings and approval of the entire JSM development phase 3.

-In phase 2 of the project the missile underwent detailed design and a successful integration check for the F-35 fighter jet as well as for the F-16 and the F-18 planes.

-In phase three the missile will be completed and ready for serial production.

-The JSM is the only long-range sea and land-target missile that can be carried internally in the F-35.

-After a successful phase 3 Kongsberg will be ready to receive orders and start serial production.

-At 1229 GMT shares traded 0.8% higher at NOK133.

-Write to Dominic Chopping at [e-mail]; Twitter: @WSJNordics

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