SAAB COMPLETES INTERNAL INVESTIGATION REGARDING CONSULTANT CONTRACT IN SOUTH AFRICA

Saab decided to launch an investigation after details emerged in the media about a contract with a South African consultant about which Saab had no prior knowledge (see earlier report).

Saab has now completed a review of the contract and the financial transactions of the company Sanip Pty Ltd during the period in question.

Our review revealed that approximately 24 million rand was paid from BAE Systems to Sanip. These payments were transferred to the South African consultant shortly thereafter.

"These transactions have never entered into the accounts," says Saab's President and CEO Håkan Buskhe, adding,

"A person emplyed by BAE Systems has without Saab's knowledge signed a for us unknown contract, signed for us up until now unknown transactions as well as signing the audited and apparently inaccurate financial statement for 2003.

The investigation and assembled materials have been submitted to the attorney Tomas Nilsson, who has been asked to comment whether, in his view, the investigation material supports Saab's conclusions. All investigation material has been handed over to Chief Prosecutor Gunnar Stetler at the National Anti-Corruption Unit on Saab's behalf. Saab will be at the complete disposal of the Chief Prosecutor in this case, should such a need arise.

"Saab has a zero-tolerance policy towards irregularities. Our internal investigation and openness in this matter demonstrates how seriously we regard this," says Håkan Buskhe.

Statement issued by Saab President and CEO Håkan Buskhe, June 16 2011

Click here to sign up to receive our free daily headline email newsletter