Gripen Offset Agreement Signed With Hungary.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Dec. 20, 2001 Gyorgy Matolcsy, Hungarian Minister of Economy and Ian McNamee, managing director Gripen International, have today signed an offset agreement linked to the Hungarian government's lease of 14 Gripen multi-role fighters to meet its national, NATO NATO: see North Atlantic Treaty Organization. NATO in full North Atlantic Treaty Organization International military alliance created to defend western Europe against a possible Soviet invasion. and European defense needs. The value of this agreement, signed in Budapest, will exceed Hungarian commitments connected to the aircraft lease agreement. Offset activities will be carried out within nine years from the effective contract date. "We have already delivered pre-offset worth US $661 million to Hungary and are in discussions with over 40 companies to build on this existing commitment," states Ian McNamee. "The lease of Gripen will act as a catalyst for further economic growth in Hungary and create substantial employment opportunities through industrial partnerships, export promotion and work placement, among others." Offset programs will be targeted to meet the business sector priorities identified by the Hungarian government. Gripen International has utilized the strengths of an international industrial network, which includes its shareholder companies BAE SYSTEMS BAE Systems British manufacturer of aircraft, missiles, avionics, naval vessels, and other aerospace and defense products. BAE Systems was formed (1999) from the merger of British Aerospace (BAe) with Marconi Electronic Systems. and Saab plus others such as Volvo, Ericsson and Investor, one of the world's biggest industrial conglomerates, to develop and deliver long-term economic benefits for Hungary in support of the Gripen contract. Gripen partners Saab and BAE SYSTEMS are world leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. in the delivery of offset to provide industrial co-operation to support defense sales. So far, programs in more than 30 countries have been implemented with a total value in excess of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 22 billion. Notes to editors: Gripen has been designed to meet the demands of all current and future threats, while at the same time meeting strict peace-time requirements for flight safety, reliability, training efficiency and low operating costs. Gripen International is a company in which Saab AB of Sweden and the United Kingdom's BAE SYSTEMS have equal shares. Already in service with the Swedish Air Force The Swedish Air Force (Swedish: Flygvapnet, literally "The Flight Weapon") is the air force branch of the Swedish Armed Forces, the military of Sweden. History , which has ordered 204 aircraft (including 28 two-seaters), Gripen has also been ordered by the South African Air Force The South African Air Force (SAAF) (Afrikaans: Suid-Afrikaanse Lugmag) is the air force of South Africa. It is the world's second oldest independent air force, and its motto is Per Aspera Ad Astra (Through adversity to the stars). which has a requirement for 28 and selected to provide the national, NATO and European defense needs of the Czech Air Force The Czech Air Force, ICAO code CEF, is the air force branch of the Armed Forces of the Czech Republic. The Air Force, with the Ground Forces, comprises the main combat power of the Armed Forces of the Czech Republic. for the next 30-40 years. Gripen International has begun negotiations with the Polish government, which is looking to procure up to 60 new fighters and has submitted an offer to the Brazilian government for the supply of 24 new Gripen fighters. A response to the Austrian governments RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. (Request for Proposals) will be submitted in January next year, based on the supply of up to 30 Gripen. Pictures of Gripen in Hungarian colors are available on www.gripen.com |
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