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The Military Gets An A Grade In Business – Cnbc-e Business 01.07.2009

The Turkish defense Industry made a major advance forward with the strategic plan put into application in 1997. After the twelve years that have transpired the situation is as follows: The turnover of the sector doubled-up while its exports tripled. We have reached the point where almost half of the armed forces’ needs are being manufactured inside the country. Defense Industry Undersecretary Murad Bayar estimates that the native defense industry will reach USD2,5 billions in turnover and USD800 millions in exports, a total of USD3,.3 billions of sales performance in 2009.. As for the performance in the first quarter of 2009, he makes the following comment:: “When the actual figures of last year are considered, we notice the fact that despite the year of crisis, our defense industry has maintained a very successful performance. In the first quarter of this year, we have signed a total of six agreements, five of which local development models. The total amount of these projects is around USD470 millions..” In the first quarter of the year, with FNSS Defense Systems where TAI and Havelsan are also shareholders a contract for 30, STM 20, MKEK 9,6, Koç İnformation and Defense Technologies 6, and Otokar and BMC, a total of €279 millions worth of contracts were signed.

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