By Anthony O. Goriainoff

BAE Systems PLC said Friday it has reached a procurement agreement worth $760 million with the U.K., Sweden, and Germany.

The London-listed defense-and-aerospace group said the agreement is for the purchase of 436 BvS10 all-terrain vehicles which are intended to support operations in the Arctic as part of the Collaborative All-Terrain Vehicle program.

The company said delivery of the vehicles--whose mobility is based on NATO's terrain accessible standards--will start in 2024, with Sweden taking in 236 vehicles, Germany 140 and the U.K. 60.

BAE said these vehicles are able to deliver personnel and supplies which sustain strategic, tactical, and operational mobility.

"Sweden, Germany, and the United Kingdom will be getting an excellent return on their investment in these highly capable vehicles for decades to come. This further demonstrates the strong relationship between BAE Systems and our customers to deliver these critical capabilities," the company said.

Shares at 1419 GMT were down 5.40 pence, or 0.6%, at 832 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

December 16, 2022 09:39 ET (14:39 GMT)

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