Kongsberg Gruppen Signs Major Contract with U.S. Navy

(Reuters) – Norwegian defense manufacturer Kongsberg Gruppen announced on Tuesday that it has signed a five-year missile contract with the United States Navy valued at approximately 10 billion Norwegian crowns (around $904.04 million).

The contract includes options that could raise the total value to about 12 billion Norwegian crowns.

Under this contract, Kongsberg will deliver its Naval Strike Missile (NSM), an advanced anti-ship missile system, to the U.S. Navy and Fleet Marine Force.

CEO Geir Haoy stated, "This contract is the largest missile contract in Kongsberg's history and an important milestone for us."

(Exchange rate: $1 = 11.0615 Norwegian crowns)