Monday, April 12, 2010

HiQ International: HiQ Receives New SEK 14 million Order From FMV

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Defense News: STOCKHOLM--(BUSINESS WIRE)--Regulatory News: HiQ (STO:HIQ) has received a new order from the Swedish Defence Materiel Administration (FMV). The SEK 14 million order pertains to maintain simulators for training fighter pilots for the JAS 39A Gripen.

“These simulators represents advanced technology at the highest level. We have been working with FMV and our Swedish armed forces for over a decade. Our job is to further develop and integrate systems based on the prevailing training requirements in the best and most cost-effective way,” says Anders Nilsson, MD at HiQ Mälardalen.

The simulators, which are used to train both Swedish and foreign pilots to fly the JAS 39 Gripen, are being developed in parallel with the aircraft. Simulators are used to provide pilots with flight training and tactical training, and in training technical personnel. The advantage of flying in a simulator compared to using a real airplane is that it costs significantly less to fly in a simulator. It is also possible to practice procedures that would not be feasible during a real flight, due to safety considerations.

“We view the new agreement with FMV as an acknowledgment that our customer appreciates our quality and expertise in training-simulator development, modelling and simulation. We are also very proud of the cooperative relationship that we have built up with Saab Aerosystems in this field over the last few years. Training simulators for the JAS 39 Gripen are complex products, and they require specialized knowledge and skills in technical communication and integration, along with testing and simulation expertise, an area where we are strengthened by our close cooperation with Saab,” continues Nilsson.

“HiQ has many years of experience working with high-tech training simulators. Because of rapid technological advancements, we are seeing increased demand for expertise in simulator technology for both military and civilian applications. Obviously we are extremely proud of our excellent cooperative relationship with FMV,” says President and CEO of HiQ International, Lars Stugemo.

HiQ is an IT and management consultancy company focusing on high-tech solutions in the fields of communications, software development and simulation technology. The company is a leading player in these fields and the Nordic region is its domestic market. HiQ employs more than 1,000 people at offices in the Nordic region and Eastern Europe. HiQ is listed on the NASDAQ OMX Stockholm Mid Cap. For more information, please visit www.hiq.se

This information was brought to you by Cision http://www.cisionwire.com

Contact:

HiQ International
Lars Stugemo, President and CEO
tel: +46 (0)8-588 90 000
or
HiQ
Annika Billberg, Head of Corporate Communications
tel: +46 (0)8-588 90 015, +46 (0)704 200 103
or
HiQ Mälardalen
Anders Nilsson, MD
tel: +46 (0)589-845 40

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