{"id":44502,"date":"2016-12-29T12:48:42","date_gmt":"2016-12-29T12:48:42","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2016\/12\/29\/turkish-saudi-firms-sign-joint-venture\/"},"modified":"2026-08-07T23:32:39","modified_gmt":"2026-08-07T23:32:39","slug":"turkish-saudi-firms-sign-joint-venture","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/global\/mideast-africa\/2016\/12\/29\/turkish-saudi-firms-sign-joint-venture\/","title":{"rendered":"Turkish, Saudi Firms Sign Joint Venture"},"content":{"rendered":"\n<p><span lang=\"EN-GB\">ANKARA, Turkey \u2014 Aselsan, Turkey\u2019s largest defense company, and Saudi Arabia\u2019s Taqnia announced Tuesday the establishment of a joint venture.<\/span><br\/><br\/><span lang=\"EN-GB\">In a letter to Istanbul\u2019s stock exchange,\u00a0<\/span>Aselsan said\u00a0registration of the joint defense company SADEC had been completed.\u00a0SADEC has $6 million in capital.<br\/><br\/> <span lang=\"EN-GB\">On Nov. 23, the two companies had signed a preliminary agreement for the joint venture.<\/span><br\/><br\/> <span lang=\"EN-GB\">State-controlled Aselsan, a military electronics specialist, ranks 58th\u00a0on <a class=\"\" href=\"http:\/\/people.defensenews.com\/top-100\/\" target=\"_blank\" title=\"Link: null\">Defense News\u2019 Top 100 list of defense companies for 2016<\/a>.<\/span><br\/><br\/> <span lang=\"EN-GB\">&#8220;One primary target of cooperation, inevitably, will be military electronics,&#8221; an Aselsan official said.<\/span><br\/><br\/> <span lang=\"EN-GB\">As part of the deal, Aselsan and Taqnia will build a factory in Saudi Arabia on the idea of &#8220;creating the most advanced available technology.&#8221;<\/span><br\/><br\/><span lang=\"EN-GB\">Officials said the main areas of technological cooperation will focus on radars, electronic warfare suites and electro-optical technology.<br\/><\/span><br\/> <span lang=\"EN-GB\">Business will focus on design, development and manufacturing of hardware and software with a view to selling them to the Saudi and Gulf markets, according to another Aselsan official.<\/span><br\/><br\/> <span lang=\"EN-GB\">Aselsan and Taqnia each will hold a 50 percent stake in the joint venture.<\/span><br\/><br\/> <span lang=\"EN-GB\">In September 2013, Turkey and Saudi Arabia ratified an agreement\u00a0<\/span>to improve\u00a0defense industry cooperation\u00a0by improving industry capabilities for both countries through more effective collaboration on the development, production and procurement of goods and services in the defense industry and related technical and logistical support fields.<br\/><br\/> <span lang=\"EN-GB\">The agreement is for five years and can be extended automatically for successive one-year periods.<\/span><br\/><br\/> <span lang=\"EN-GB\">In 2012, the Turkish parliament also approved a deal with Saudi Arabia regarding cooperation in training military personnel.<\/span><br\/><br\/> <span lang=\"EN-GB\">Industry experts in Ankara said defense industry deals between Turkey and Saudi Arabia could facilitate Turkey\u2019s future exports of naval vessels, assault boats, armored vehicles and UAVs to Saudi Arabia. The Arab kingdom also has shown an interest in the Altay, Turkey\u2019s first indigenous, new-generation battle tank now in the prototype production and testing stage.<\/span><br\/><br\/><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Aselsan, Turkey\u2019s largest defense company, and Saudi Arabia\u2019s Taqnia announced Tuesday the establishment of a joint 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