Fourth Gripen offset report approved in the Czech Republic
On 2 June 2008 the Czech Ministry of Defence approved a total of 2.6 billion Czech Crowns worth of offset for the calendar year 2007. The total value of the Offset generated within the Gripen programme now amounts to 11.3 billion Czech Crowns (approx 450 million EUR) representing 44% of the total Offset obligation. The full offset obligation is to be discharged within a 10-year period from the effective date of the Offset Agreement, signed on 14 June 2004.
Gripen International has committed to generate offset and industrial cooperation to a value of 130% of the aircraft lease agreement value. The offset agreement requires a minimum of direct offset equalling 20% of the offset agreement’s value to support and develop the Czech aerospace and defence industry. The offset program will be fulfilled by 2014, which is 10 years from the contract signature.
Gripen International is also delivering industrial cooperation programs in Hungary and South Africa.