Aselsan Gets Turkey Defense Contract

Military electronics firm Aselsan Elektronik Sanayi ve Ticaret AS (ASELS.IS) said Friday it signed a contract with the Turkish Defense Ministry for the project designdevelopment of the 35 mm Oerlikon gun.

The contract has two parts--one part is valued at 71.354 million Turkish lira ($46.6 million)the other is worth EUR10.6 million.

At 0935 GMT, shares in Aselsan were trading on the Istanbul Stock Exchange up 2.4% at TRY12.90, compared with a 0.58% higher overall market.
(YC-YC-E-ENG)