ARLINGTON (dpa-AFX) - BAE Systems (BA.L), an aerospace and defense company, announced on Wednesday that it has signed a contract with the Swedish Defense Materiel Administration or FMV for $500 million to supply 48 new Archer artillery systems to the Swedish Army.
The Archer mobile artillery system is designed by BAE Systems Bofors and the Swedish army is already using it. The new 48 systems will be built on a Rheinmetall MAN military vehicle, RMMV HX2 8x8, with the first delivery taking place in 2025.
'ARCHER can fire the BONUS anti-armor munition up to 35km, conventional munitions up to 40km, and the precision-guided munition Excalibur in excess of 50km. The automated magazines can hold a mix of different ammunition types and modular charges needed to support any mission,' the company said in a statement.
Currently, shares of BAE are trading at 1045.00 pence up 0.10% on the London Stock Exchange.
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