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Australia calls for negotiations for further Penguin deliveries (Jan. 19)

Kongsberg Defence & Aerospace AS has been notified that the Royal Australian Navy would like to open negotiations to exercise the option inherent in the Penguin contract signed less than a year ago.
Negotiations will commence immediately, and the target is to sign a contract by this coming June. It is expected that exercising the option will lead to orders worth more than MNOK 300, in addition to last year's contract.
Valued at approximately MNOK 380, the original contract with Australia's Department of Defence was signed on 18 February 1998. It encompassed the delivery of Penguin anti-ship missiles for deployment on Royal Australian Navy helicopters. The Penguins will be deployed on the Kaman helicopters to be carried on Australia's new Anzac frigates. The contract signed last February covers a period of almost five years, and the option will prolong the contract period by another three to four years.
"The original contract with Australia demonstrated the Penguin's market competitiveness. The fact that Australia is electing to exercise the option further underscores the Penguin's position. We still believe that Australia's choice of the Penguin for the Kaman will boost the product's international market appeal", commented Tom Gerhardsen, president and CEO of Kongsberg Defence & Aerospace AS.

-ends- Australia calls for negotiations for further Penguin deliveries (Jan. 19)