Gripen International announces latest Hungarian offset claim

- Gripen Industrial cooperation moves forward and eighth claim approved by Hungarian Ministry of Economy and Transport amounts to over 539 MSEK (approx. 57 million EUR)
The Hungarian Ministry of Economy and Transport has confirmed the approval of Gripen’s eighth offset claim and has now registered 5143 MSEK (550 MEUR) in offsets. Of this amount, the export value equates to 3580 MSEK (382 MEUR) and the investments value to 1563 MSEK (167 MEUR). The status of the program equals to 70% for the total offset obligation performed by Gripen International in Hungary.

-This significant achievement has been made possible by a number of aspects:
An established strategic framework the good business climate in Hungary and with the good support of our Gripen offset trade group, comprising a number of individual companies, organizations and institutes, says Yvonne Rosmark, Gripen Internationals Program Director for Hungary.

- The latest claim includes some of our new IC partners such as Haldex (automotive industry) and Orion (electronics).

- Procurement of Gripen, the new generation multi-role fighter, has enabled economic growth for Hungary and substantial employment opportunities through industrial partnerships, export promotion and high-technology transfer among others.

Dr. Sandor Szabo, Director of offsets at the Ministry of Economy and Transport comments,

-We are delighted with the continued progress of the Gripen related offset obligations and see this as a positive and successful aspect of the Gripen for Hungary agreement-

Notes to editors:
Hungarian background: Ever since the early 1990s, when Saab AB (and later Gripen International) began promoting Gripen to the Government of Hungary, offset and industrial co-operation have been important items on the agenda. When the first contract between Hungary (MoD) and Sweden (FMV) was signed in 2001, covering the lease of 14 Gripen aircraft, an associated Offset Agreement was concluded between Gripen International and the Government of Hungary, under which Gripen International assumed a commitment to undertake certain activities to offset the aircraft contract. Through the offset program, Gripen International is dedicated to stimulating employment and economic growth, generating investments, export growth and building sustainable business in Hungary.

Gripen is the first of the new generation, multi-role combat aircraft to enter service. Using the latest available technology it is capable of performing an extensive range of air-to-air and air-to-surface operational missions and employing the latest weapons. Gripen is designed to meet the demands of current and future threats, while at the same time meeting strict requirements for flight safety, reliability, training efficiency and low operating costs. Gripen is in service with the Swedish and Czech Republic Air Forces and has also been ordered by the South African and Hungarian Air Forces. The UK Empire Test Pilots’ School (ETPS) is operating Gripen as its advanced fast jet platform for test pilots worldwide.

Gripen International is the Swedish company which acts as a prime contracting organization, responsible for marketing, selling and supporting the Gripen fighter worldwide. Gripen International combines the strength of its international industrial partners, which are among the world's most experienced and respected manufacturers of aerospace and defense equipment. www.gripen.com

For further information please contact:
Anne Lewis-Olsson, Communications Director Hungary, Gripen International.
Mobile: +46 734 1813 55
Email: anne.olsson@gripen.com

Virág Vinczeffy, Group Account Director Mmd Public Relations Hungary
Tel: (+36 1) 266 7833
virag.vinczeffy@mmdcee.com
www.mmdcee.com