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00:00We are building now, as we speak, a factory very much similar to what we have in Kongsberg in Australia.
00:09It's under construction. We just also did the initial stage of building up a factory in the U.S.
00:19to address the specific needs of missile production and missile assembly, actually.
00:27We also increase our capabilities for the remote weapon stations for the vehicle, on vehicle, in the U.S. and also in Norway.
00:39And in terms of your sort of supply chains, this is something I know that you were concerned about last time that we spoke.
00:44How concerned are you about your supply chains now and thinking about kind of where the weaknesses are and what have you done to try to make those sort of bulletproof, so to speak?
00:52This is something that we address continuously. I mean, it's so important for us.
00:56We have a massive ecosystem of suppliers supporting us every day, 24-7.
01:02And obviously, many of these companies are smaller companies, mid-sized companies.
01:07And we need to really give them the long-term commitment to also invest in their capability.
01:13Otherwise, it will be difficult for us to ramp up. So this is something that we are working on every day.
01:20We are trying to robustify where we can robustify. I think by investing in Australia and in the U.S. now, we will also build up new supply chains, which again will give us a more robustified supply chain.
01:34So that is also, I would say, one strategy behind also investing in outside Europe and Norway.
01:42And sort of friendshoring in that way. And then in terms of specifically semiconductors, because I talk to a lot of CEOs and we talk about rare earth metals and the fact that China has basically universal control over this market.
01:52If they were to turn off the taps, let's say tomorrow, how much runway do you have? How much do you think about that?
01:58That's, I think it's a huge concern for us and for the industry as whole, because we are depending on, you know, the earth minerals.
02:10There are initiatives now, you know, to make sure that we are not, let's say, so much depending on China.
02:19I think this is really critical. We have initiatives going on in Norway. We have other initiatives going on in Europe.
02:25And I think it's crucial that we get speed up on these issues.
02:30And then thinking about sort of the massive defense bill that we've seen over the last few years here in Europe.
02:34I mean, as worrying as that is telling us about kind of where we are maybe as a species, there's a very sort of once in a generation opportunity for Kongsberg to kind of see the gaps that exist within the military market and filling those.
02:47Where are the gaps that you do not occupy now that you think there could be space for you to move into in the sort of the demand gaps that you see within Europe that you might be able to fill?
02:56No, I think we mentioned, you know, the growth that we had the last few years.
03:03I think there are one area or maybe a couple of areas where we really can contribute more than we do today.
03:10And that is in the space area. We are establishing the entire values of the space.
03:17We are now establishing our own small satellite constellation.
03:22We are talking with other nations to increase that going forward.
03:25Uh, and then underwater, uh, underwater surveillance, uh, both for security, but also for environment.
03:34Uh, so Kongsberg, uh, we are, uh, I would say one of the world leader when it comes to sound in water.
03:40And, uh, obviously, um, uh, that is also a critical area where, where we see, you know, uh, when we talk about security.
03:48So, uh, just in Norway, we have an enormous infrastructure, uh, with, uh, fiber optics, with, with pipes, uh, transporting energy to, to Europe.
03:58It's important that we, we, we, we focus on, on the security of these kind of infrastructure going forward as well.
04:04And there's been a lot of focus on this idea of a drone wall.
04:06We've been hearing a lot about it. I don't know what it is, but you're probably going to take a part in building it.
04:11What are the sort of components for a sort of drone wall and the kinds of things?
04:15What, what are the sorts of things make that sort of more real for us in terms of what that looks like?
04:20Yeah, I think that we talk about, uh, and, and I get, uh, I guess, you know, everyone have seen what is going on in Ukraine these days.
04:26Uh, you know, with the drone, massive drone attacks, uh, I would, I would call it very, uh, um, uh, low cost threats.
04:35Uh, but obviously you need to defend yourself against these kind of, of, uh, threats, whether that is for surveillance or for attacks.
04:43Uh, I would say that the drone, uh, wall, uh, is a part of a bigger air shield defense.
04:51Uh, Kongsberg are into the air shield defense.
04:53We are, uh, having our air, uh, air defense systems, uh, which is a medium range.
05:00Uh, today we are expanding that, uh, ambitions to expand that to the long range.
05:04But we have also recently now implemented short range, which is drone detection and drone, uh, you know, uh, to, to, to country U.S.
05:13Uh, system that we have implemented in Ukraine. We did that in six months together with, uh, another industrial partner.
05:20And this is something that we also expanding on now, uh, with other, uh, industrial, uh, players.
05:27So, so I, I would say the drone, uh, I guess it's also, uh, quite, uh, uh, you know, uh, recent what we have seen here in, in, in Denmark and in Copenhagen.
05:38Sure.
05:39Yeah.
05:40It's, uh, it's, uh, but it's, it's, for me, it's, uh, part of the entire, uh, air defense system.
05:46Mm-hmm.
05:47It's not one system for that and, and another system for, for another team.
05:51And much is made about the uncompetitiveness of Europe, generally speaking.
05:54This is one of the great issues that the commission now wants to address or of many initiatives such as this one.
05:59I'd like for you who's actually participating as a business in trying to make Europe more competitive.
06:04What do you need to see sort of concretely?
06:06Because it sounds very abstract to many people who kind of just keep hearing about this.
06:10What do you need to see concretely to make that happen within Europe?
06:14First and foremost, I think we, we really need this, you know, less talk, more action.
06:21It means, uh, to simplify the regulations.
06:25I noticed that the president of the EU called it simplification.
06:35I think we should also deregulate because it's too much regulations, which makes it very, very difficult for industry as us to jointly address the challenges that we see.
06:48So we need to put in action the things that they have been discussing in the EU for quite some time now.
06:57We need to get that effective.
07:00And then I need long term commitment for making my business case to making my investment.
07:09Then I need commitment from the governments, the commission that there is a takeoff of the buildup that we're going to do.
07:19And then you also have a lot of experience obviously selling into the United States.
07:23Is that a very different experience from selling into Europe?
07:26And what do you think the European side could potentially learn from how the U.S. goes about this?
07:31Yes, so we have some experience in selling into and, you know, it comes in different forms.
07:37But one important part for us to make an investment in missile assembly and production in the U.S. was actually a long term frame agreement,
07:47giving us the necessary security that there is a takeoff of that investment when we do that.
07:55I think Europe, we need Europe is many countries.
07:59I think it's that that is obviously one of the challenges here.
08:02We need to be one Europe, making sure that we have a, you know, more jointly approach to these challenges that we see.
08:10If you're going to be more competitive, spending more on innovation and research and investment for scaling up,
08:18we need to be more jointly.
08:20So, for example, would it be helpful for you if, let's say, the major countries of Europe, let's say, France,
08:24Italy, Germany, you know, all of these countries came together.
08:27They decided jointly what they needed and then brought to you a list.
08:30Would that make your life easier?
08:32I think they already said basically what they need.
08:36I think it's the framework around it, the financing, you know, the framework so that we, as an industry,
08:43and not only Kongsberg, I mean, we are depending on partners.
08:47I think we need a framework where we, as an industry, are incentivized to work together to address, you know, the challenges that we are facing,
08:56whether that is security, defense, environment whatsoever.
09:00So, the challenges is not unified in Europe, how to actually address these challenges and how we should actually, you know, put the finance behind it, the commitment behind it, the risk of investments.
09:19And a couple of final questions just kind of on your plans on the business.
09:22In terms of M&A, there's so much sort of excitement going on in the defense industry right now.
09:26Could you see yourself participating within M&A in the space?
09:29Are there gaps in your portfolio that you could see building up through M&A?
09:33Yeah, I will not be specific on that, but this is something.
09:37Maybe areas, yeah.
09:38Yeah, but that is areas where we are working on.
09:40I mentioned a few of them, you know, surveillance space could be areas.
09:47It could be missiles.
09:50We are in several programs these days.
09:54We just have an agreement with Germany for the next supersonic missile development program.
10:00And so we are, I would say, leaning forward to see how we can make M&As, partnerships, JVs.
10:10We just announced a JV with Thales, for example, for Thales Norway and Conspirate Communication.
10:17And I think we need to see more of that as well.
10:20Not necessarily M&A.
10:24It could be a joint venture or something.
10:28And you've also launched a strategic review for your digital unit.
10:33You said you'd have an update in the second half.
10:35It is the second half.
10:36Do you have an update?
10:37That's in progress.
10:39So we will come back to that when we are...
10:42Do you feel that you're close to a decision with what to do with it?
10:45I think we are moving in the right direction.
10:48And it's going to be, you know, interesting to see what's going to happen in the next quarters.
10:54And then another final question, just sort of for the business.
10:56Have Canada and the United Kingdom, have they shown interest in the naval strike missile for their Type 26 frigates?
11:01I know they're sort of demoing that at the moment.
11:04Have they shown interest in the naval strike missiles for their Type 26 frigate?
11:11Absolutely.
11:12To buy them and to...
11:13Absolutely.
11:14Is that the UK going to buy them?
11:15Yeah.
11:16Yeah.
11:17And Canada?
11:18We will see.
11:19We will see, but potentially.
11:20Okay.
11:21That has come.
11:25右
11:25Well just bream, that is one big place.
11:30Ah ok.
11:31Inspector Christy Noine-
11:32Nice team.
11:34Time.
11:35Yes.
11:36Yes.
11:37Not three people.
11:38No bedroom.
11:39편еди eyeing you put three or two stopped.
11:40I guess who did not prove them?
11:42Yes.
11:43Can I have the Traitor?
11:44Back in the 24よね.
11:45We will see what's going to play it soon with that.
11:46Okay.
11:47Sit at?
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