Czech Gripen

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CZECH GRIPEN

REAL ECONOMIC GROWTH THROUGHOUT THE CZECH REPUBLIC

Gripen International is committed to delivering offset to the Czech Republic worth 25.5 billion CZK. This represents 130 % of the value of the lease payments for the Gripen aircraft.

Offset does not mean direct investment, but rather the value generated by an investment. It is primarily based on the value of export contracts that generates Czech revenues. At least 20 % of the offset value should be Direct offset. This means it should create business value for the Czech domestic defence and aerospace sector, as well as Civil Security.

By the end of 2008, after four of the programme’s ten years, 63.5 % of the total value had already been delivered.

BAK

The automotive supplier BAK s.r.o. produces brake discs in a factory in Hradec Králové. They entered the Gripen Industrial Offset Programme in 2002 and have doubled their production in 2008.

The Chairman and Chief Executive, Dr. John G. Krosnar says: “Gripen industrial offset gave us the opportunity to receive the knowledge, transfer of expertise and support that made it possible for our company to expand. I am convinced that without our involvement in the Gripen industrial offset programme, we wouldn’t have been able to see the increase of production at the rate we are seeing today”.

BAK, automotive supplier in the Czech Republic

Image: Production at BAK s.r.o. Photo: Malcolm Hanes

Pacific Direct

As a producer of branded and private label luxury cosmetics and toiletries, Pacific Direct joined the Gripen Industrial Offset Programme to speed up expansion. Pacific Direct’s production plant in Hradec Králové exports to 110 countries around the world. You can find their products in all décor and styles in hotels, cruise liners and retail markets.

Pacific Direct, producer of branded and private label luxury cosmetics and toiletries in Czech Republic

Image: Production at Pacific Direct. Photo: Malcolm Hanes

Martin Samek, former Managing Director of Pacific Direct says: “We had an immediate demand for expansion. The Gripen Industrial Offset team provided us with all the necessary support and expertise we needed to accomplish this growth much earlier than we could have anticipated.”