The collapse of the Bofors kickbacks case in India has been received with a sigh of relief in the South Central town Karlskoga, Sweden.
The artillery gun major, which is based in the town, is eyeing an Indian deal for upgradation of the artillery gun range.
"It has finally ended. The court ruling will help us get back our image internationally," officials told a group of visiting Indian journalists.
"Though Bofors Defence AB is not involved in the court case, we are overjoyed that the controversy has been closed," Haken Kangert, chairman of SWS Defence, the India-specific arm of Bofors, told PTI as the artillery company is vying for Indian Army's long delayed acquisition plans to upgrade it entire artillery gun fleet to 155 mm standards.
Bofors' new artillery system, FH77-B05-L52, is a major contender along with South Africa's Denel and Israeli Soltam for India's plans to raise and equip 100 plus regiments of the towed version of the 155mm artillery guns.
The ruling could not have come at a better time for the company, as it is in the process of being merged with British Aerospace Land and Armament Systems to form the United States' fourth largest arms conglomerate after Lockheed Martin, Northrop Grumman, Boeing and Raytheon.