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