Investing.com -- Shares of Saab climbed 6% after the defense company announced the successful upgrade of the HMS Halland submarine.
The upgrade, which took place at Saab's Karlskrona shipyard, is part of a comprehensive mid-life update for the Gotland class submarines, incorporating new technologies that will also be featured in the forthcoming Blekinge-class submarines.
This modernization is seen as a significant enhancement of Sweden's maritime defense capabilities, with HMS Halland set to support naval operations for many years ahead.
The upgrade aligns with the current strategic demands for securing underwater infrastructure and sea lanes, which is increasingly crucial in today's geopolitical climate.
Mats Wicksell, Head of Saab's Business Area Kockums, stressed the importance of this advancement, stating, "Securing critical underwater infrastructure and sea lanes is more important than ever. The launch of HMS Halland is a testament to Saab's ability to upgrade and deliver advanced submarines with the capabilities the Swedish Navy requires. With HMS Halland, the Swedish Navy, and by extension NATO, is given additional muscle to defend and monitor the Baltic Sea."
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