5/1/2009

Turkish defense firm Aselsan inks deal with Italian Finmeccanica

Reuters - Turkish defense equipment maker Aselsan said on Wednesday it inked a partnership deal with a unit of Italy's Finmeccanica for work on defense systems for a new type of submarine. Under the terms of the deal, Finmeccanica unit WASS and Aselsan will integrate WASS-manufactured Black Shark torpedoes into the submarine's anti-torpedo defense system. The agreement on the project may be expanded to include torpedo production at a later date, the company said in a statement without disclosing any financial details. Aselsan said earlier on Wednesday that it plans to sign a contract with the Chilean armed forces to help modernize a fleet of 100 Leopard tanks. The project with Chile is estimated at USD 150 million, the company said in a statement to the stock exchange. Aselsan, which is also working with Lockheed Martin in a multi-nation F-35 fighter jet project, said it is also looking at other partnerships with Chile. A Turkish Defense Ministry official said on Tuesday that he expects Aselsan's share from the F-35 project to reach USD 1 billion.