all the defense and aerospace news
defense news
aerospace news

Bulgaria, Eurocopter Agree on Offset Package (Dec 7)

The Bulgarian economy will benefit EUR 360 m from the offset agreement with Eurocopter, annexed to the contract for the delivery of 18 helicopters to the Bulgarian air forces and naval forces. The programme is expected to create over 1 000 jobs. This was announced at the presentation of the agreement at the Ministry of Economy and Energy.

Minister Rumen Ovcharov pointed out that Eurocopter had made the commitment under the direct offset amounting to EUR 254m. The indirect offset includes investments in the chemical industry, programme for training in Germany, France and Spain, assistance for Bulgarian export, as well as construction of a plant for aluminium products. Bulgarian companies will have the opportunity to join the programme as main providers and contractors under projects related to the offset programme.

The Minister of Economy and Energy believes that the application of offset programmes is a classic way to transfer technology, industrial development and create export opportunities. He said that the Bulgarian government would regard the offset programmes as an inseparable part of the contracts for the modernization of the Bulgarian armed forces.

Eurocopter’s Senior Vice President said that the company aims to develop a programme that could continue to work after the expiry of the agreement. He emphasized the prospects for training and grants for Bulgarian nationals and said he was convinced that the agreement would turn into the best example of cooperation in Central and Eastern Europe.

The Bulgarian Economy Will Benefit EUR 360 M from the Offset Agreement with Eurocopter