Tue, Apr 22, 2003
Poland Drives Hard Bargain for Four Dozen Falcons
The Polish Minister of Economy Labor and Social Policy, and
Lockheed Martin Aeronautics Company earlier this month signed a
Master Offset Agreement valued at $6.023 billion as part of
Poland's procurement of 48 F-16 C/D Block 52 aircraft. That figures
out to roughly $125 million per aircraft.
The agreement details a series of specific offset
projects designed to bring high technology, new jobs and growth to
the Polish economy. The agreement complies with Polish law and
allows for the immediate implementation of all agreements contained
in the Letter of Offer and Acceptance between Poland and the United
States, initialled in March 2003.
"I am delighted with the fact that after much difficult
negotiations, the two sides have come to an agreement," said Deputy
Minister of Economy Jacek Piechota. "It was in the interest of
Lockheed Martin to conclude this agreement allowing the sale of the
F-16s to proceed, and it is in our interest to take advantage of
the unique opportunities that a strategic economic relationship
with the United States provides us. This agreement is a success for
Poland, and the long term benefits to the Polish economy will allow
us to play a full role in the new competitive environment of the
European Union."
Philip Georgariou, Lockheed Martin's Regional
Director for Industrial Participation, noted that the agreement
focuses on strategic areas such as technology transfer and
information technology, as well as providing projects in key
economic sectors. "Together with our industry team members, we
intend to work closely with the Polish government to select the
best possible projects over the lifetime of the contract, bringing
benefits to the Polish economy well beyond the 10-year life of the
offset contract," he noted. "The agreement is intended to enhance
Poland competitively in the global economy, create jobs and enhance
local labor market skills."
As requested by the Polish government, the projects in the
agreement focus on high-technology and long-term job creation. The
agreement also provides Poland with the opportunity to deepen its
economic relationship with the United States, the strongest and
most technologically advanced country in the world. As a whole, the
entire package of offset projects will bring significant economic
benefits in excess of $9 billion to Poland far beyond the ten-year
lifespan of the offset program.
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