Are you sure?

Rába signs contract covering 30% of military offset deal

Vehicle maker Rába Jármű Kft has signed a contract with the Ministry of Economy and Transport covering 30% of an offset agreement for non-Hungarian content in a vehicle order for the Defense Ministry worth an annual Ft 6.7 billion in both 2007 and 2008, business daily Világgazdaság reported.

The offset agreement is for 170% of the value of imported content for the vehicles. The orders for 2007 and 2008 are part of a 15-year supply contract worth Ft 20 billion Rába signed with the Defense Ministry in 2003. Rába is delivering trucks from its own H family as well as Mercedes-Benz and MAN vehicles it converts.