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Saturday, July 15, 2006

Greece Approves $250 Million Offset Package for F-16 Purchase

The Greek defense ministry on July 14 said it had approved an offset package worth $250 million (196 million euros) for a purchase of 30 F-16 fighter aircraft from U.S.-based Lockheed Martin.

The deal includes manufacturing projects for Greece’s state and private defense industry, the ministry said in a statement.

According to U.S. defense contractor Lockheed Martin, the total value of Greece’s December 2005 order for the 30 F-16 Block 52+ planes — which rank among the company’s most advanced — is approximately $1.99 billion.

The aircraft are expected to be delivered in 2009.

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