ASELSAN to operate in Saudi Arabia

In partnership with Saudi Technology Development and Investment Company (TAQNIA DST), Turkey's ASELSAN (Military Electronics Industries) have established SADEC LLC (Saudi Defense Electronics Company), a company with a total equity of nearly $6 million.

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Rusya'da düzenlenen uluslararası havacılık ve uzay fuarı MAKS-2015'e katılan tek Türk şirketi olan savunma sanayi kuruluşu ASELSAN'ın son havacılık ürünlerini sergilediği standına yoğun ilgi gösterildi. (Sefa Karacan - Anadolu Ajansı)

In partnership with Saudi Technology Development and Investment Company (TAQNIA DST), Turkey’s ASELSAN (Military Electronics Industries) have established SADEC LLC (Saudi Defense Electronics Company), a company with a total equity of nearly $6 million.

A statement issued by ASELSAN on the Public Disclosure Forum (KAP) revealed that “the registration processes for the establishment of SADEC LLC, a joint venture between ASELSAN and TAQNIA DST, with a total equity of $6 million has been initiated.”

According to the statement, the newly formed company will operate in the sector of radar, electronic warfare and electro-optical systems. The joint venture is expected to have a positive impact on ASELSAN’s turnover.

ASELSAN announced on Nov. 23 of last year that it had signed a provisional deal with Saudi firm TAQNIA on the establishment of a joint venture in Saudi Arabia.

ASELSAN, a company under the Turkish Armed Forces Foundation, was established in 1975 in order to meet the communication needs of the Turkish Armed Forces (TSK) through local means. More info

Source:  www.dailysabah.com

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