Aselsan Wins Turkish Long-Range Defense Systems Deal

ISTANBUL --- Turkish defense giant ASELSAN said Tuesday it had signed, along with Roketsan, TÜBİTAK SAGE business partnership, an accord for a national long-range defense system project for defense industries undersecretariat.

It said in a statement to the Turkey's stock exchange Borsa Istanbul (BIST) that ASELSAN's share under the agreement was 869 million Turkish liras ($227 million) and 279.3 million euros ($342 million) and that the deliveries will be completed in 2021.

In November, ASELSAN became Turkey's most valuable company as its market capitalization reached 44.8 billion Turkish liras ($11.56 billion).

ASELSAN designs, develops and manufactures military communication systems, radar and electronic warfare systems, electro-optical systems and defense and weapon systems for the Turkish military, in addition exports abroad.

The company is ranked 58th in the list of the world's top 100 defense giants in 2016, according to the prestigious U.S. weekly, Defense News.

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A national long range defense system project agreement has been signed between Aselsan, Roketsan, Tübitak Sage Business Partnership and Undersecretariat for Defense Industries on 15.01.2018.

Within the context of the agreement, ASELSAN's share is TL 869.013.861 and EUR 279.257.600, and the deliveries will be completed in 2021.

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