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Assured Growth | 01.01.2008 / Forbes

Assured Growth. A Turkish company in the global defense companies league is selling ‘land systems solutions’ to the world takes away business from the United States in the Middle East. In 2009, USD120 millions in sales is of a sure thing. Merve Gün of the Undersecretariat of Defense Industry had brought up a pre-condition when announcing a tender for the 6898 armored combat vehicle back in 1988: the vehicles were to be manufactured in Turkey in partnership with a foreign company. At the end of the highly competitive bidding for the tender by the consortiums formed by three British, German and American companies and their Turkish partners FMC-Nurol consortium won the battle. The project which was to be completed in 10 years caused the creation of FNSS, the first private defense company. FNSS which became the first company exporting defense industry products, signed the biggest export contract realized at one time totaling approximately USD 300 millions, and this way it made happen the export of a complete defense system for the first time. Nowadays, it is working on the modernization of the land vehicles by the Saudi Arabian Army. The total amount of its works in Turkey is approximately USD 450 millions. They are putting up a tough competition in the world defense market parceled out inch by inch by the West. In a true sense of the word, the crisis per se ‘is not even their concern.’ As it stands now, even if they do not add any new contracts to already what they have in their hand, they are still guaranteed a minimum of USD 120 millions in orders. One of the most important trump cards the company has in the world market is its logistics status…. The Balkans, the Caucuses, and the Middle East, in other words, starting off right from the heart of a geographical location where the world defense spendings are most needed –that is Turkey, is its major advantage. Another element contributing to FNSS’s strength is that it holds a 49% stake in BAE Systems. (…)

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