Rolls Royce targets Turkey with new joint venture
Derby-based Rolls-Royce and Kale Group, a major player in global and national defence and aerospace industries, have announced the formation of a joint venture company to target aero engine opportunities in Turkey.
Kale Group will own 51 per cent and Rolls-Royce 49 per cent of the joint venture, which aims to develop aircraft engines for Turkey, initially targeting the TF-X National Fighter Jet Project.
The agreement was signed at a ceremony in Istanbul yesterday attended by Osman Okyay, deputy CEO of Kale Group and Chris Cholerton, Rolls-Royce, president – defence aerospace.
Okyay said: “Today we are very pleased and proud to be uniting our energy with one of the biggest jet engine makers of the world. This partnership is a milestone in the development of the aerospace and defence industries of Turkey.”
Cholerton said: “We are delighted to announce this new Joint Venture and to have the opportunity to work together with Kale to develop the national engine for TF-X.”
Kale Group is the contractor for the Turbojet engine development project, a milestone in Turkey’s aim to produce domestic aircraft engines.
Kale Group ranks among the largest industrial conglomerates in Turkey. The firm owns 17 companies with more than 5,000 employees and US$1bn annual sales.