PARIS --- Below are the portions of BAE Systems’ half-yearly financial report pertaining to the company’s FNSS joint venture in Tukey.
We have emphasized in bold typeface points of particular interest. A link to the full report is provided at bottom.
FNSS, our land systems joint venture based in Turkey, continues to perform under its $524m (£403m) programme to produce 259 8x8 wheeled armoured vehicles for the Royal Malaysian Army.
Production has completed on a contract to upgrade M113 tracked armoured personnel carriers for the Royal Saudi Land Forces, with the next contract phase expected to be signed in the second half of the year.
In support of an export contract to Oman awarded in 2015 for the PARS Wheeled Armoured Vehicle, work continues to deliver 8x8 and 6x6 vehicles in a number of configurations. The customer received the first vehicle in July.
Work has begun under a €278m (£244m) contract awarded in June 2016 to supply 260 Anti-Tank Vehicles to the Turkish Land Forces and an €84m (£74m) contract signed in December 2016 for air defence vehicles for the Turkish Land Forces.
In March, FNSS received a €155m (£136m) contract to provide 27 amphibious assault vehicles to the Turkish Ministry of National Defence.
FNSS has grown its order book with both domestic and international orders.
These long-term contracts and our franchise position in tracked vehicles, which offer opportunities in international markets, make the land business well placed for growth in the medium term.
Click here for the full statement (45 PDF pages) on the BAE website.