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, No 13, Monday 14th July, 2008

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MAIN HEADLINES FROM THIS ISSUE:

  • Special Report: Swiss offset audit denounces ‘false hopes and expectations’

    An exceedingly contentious report on Switzerland’s industrial participation and offset process has detonated a political uproar in the country. The 100-page document was prepared by the Swiss Audit Authority following a six-month probe of Armasuisse, the body responsible for administering Switzerland’s offset policy. After the report’s presentation to Parliament’s Security Commission last September, the Commission decided not to allow publication. The report has now been leaked. Armasuisse has written a 7-page riposte to the Audit Authority denouncing many of its findings…

  • South Africa: Saab issues shares worh $12.3m to comply with BEE requirement

    Saab has concluded a Black Economic Empowerment transaction with Imbani Amandaba, a 100 percent black-owned company whose members consist of investors from historically disadvantaged groups. The consortium has subscribed for 25 per cent plus 1 share in Saab Grintek Defence. The transaction involves the issue of new shares to the consortium at a value of R95m ($12.3m)…

  • South Africa’s corvette inquiry “Corruption took place at the offset level”

    The Dusseldorf public prosecutor’s office has closed its investigation into whether former employees of Thyssen Krupp had paid bribes to South Africans in connection with the sale of four corvettes to the South African navy…

  • Poland: MoE to retain management of offset program, not the MoD

    Domestic press reports advising that Poland’s MoD intends to set up a new department for industrial cooperation next year to be handled by a branch of the Armaments Agency have confused the industry. The Ministry of Economy, which administers Poland’s offset policy, is recognized as having a strained relationship with the MoD…

AND LOT'S MORE...

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