Rolls-Royce and Kale Group, a major partner 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 today attended by Osman Okyay, Deputy CEO of Kale Group and Chris Cholerton, Rolls-Royce, President - Defence Aerospace.
Osman 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.”
Chris 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.
The establishment of the joint venture is subject to the usual legal approvals.
Source: Rolls Royce
Date: May 8, 2017