Exclusive: We track down arms deal jobs

2014-03-30 10:00

An electrical manufacturing firm that doesn’t exist, a litany of bankrupt companies and a fraction of the jobs promised.

That’s the legacy of the arms deal’s disastrous offset projects.

City Press visited 20 of the projects and businesses created as part of the offset deals with five international arms companies – investment projects in exchange for billions spent on new military hardware.

We chose companies on the list that promised a higher number of jobs and were funded by major arms companies.

Some of the companies only created a few of the jobs they had promised, while others created no jobs at all.

Trade and Industry Minister Rob Davies spoke to City Press on Thursday and said his department had made significant changes to the policies governing any offset deals struck in future with international companies.

He also said if the arms dealers had not delivered on their promises, his department would still ‘expect’ them to do so.

» Get City Press newspaper today for the full story.

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