Exports to 29 countries boost profits of Turkish state-run arms firm

Discussion in 'Turkish Defence Forum' started by Quasar, Mar 5, 2012.

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  1. Quasar
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    Quasar FULL MEMBER

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    The Mechanical and Chemical Industry Corporation witnessed a 180 percent increase in 2011 profits to 165 million liras, while its total turnover hit 850 million liras

    The Mechanical and Chemical Industry Corporation (MKEK) has broken its own record in profits.

    MKEK increased its net profit 180 percent to 165 million Turkish Liras in 2011, according to company data gather by Anatolia news agency.

    MKEK is a state-controlled corporation with a mandate to supply the Turkish Armed Forces with guns, ammunition, missiles, rockets and explosives.

    The total turnover of MKEK rose to 850 million liras last year, up from 650 million liras the previous year.
    The total value of the orders placed by the National Defense Ministry, military departments, Interior Ministry, Security General Directorate and Turkish National Intelligence Service amounted to 350.8 million liras in 2011.

    The export volume of MKEK is on the rise in recent years with new models developed in cooperation with universities and private industrial firms.

    The export markets of MKEK spanned 29 countries from Panama and Switzerland to the Philippines and U.S. with a total turnover of nearly 98.5 million liras.

    Total profits of MKEK including domestic sales hit 165 million liras. MKEK also signed 630 million liras of export sales contracts in 2011.

    MKEK is collaborating with 28 universities on various projects. The public corporation is currently carrying out 127 research and development projects including Altay, the national tank project, and modern infantry and automatic rifles.

    The budgets regarding these projects total 283 million liras.

    MKEK has recently revealed that domestic gun sales are rising rapidly. Turkish citizens have spent roughly 353.5 million liras on guns in the last five years, according to MKEK data.

    BUSINESS - Exports to 29 countries boost profits of Turkish state-run arms firm
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  2. Machine
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    Machine FULL MEMBER

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    I wonder what could possibly Turkey export to Switzerland and U.S.
  3. Oscar
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    Oscar SENIOR MODERATOR

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    ASELSAN PRC-6661's to Homeland security for eg
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  4. Thəorətic Muslim
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    Thəorətic Muslim FULL MEMBER

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    Well not everyone is as rich as you are. Some countries buy similar quality platforms for cheaper price. And make up for it by exploiting the advantages of the platform.

    Back to topic, 850 lira isn't bad for an industry that has only currently began to focus on exporting their products.
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  5. Quasar
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    Quasar FULL MEMBER

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  6. Saithan
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    Saithan FULL MEMBER

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    I hope that the products are flexible enough to be used for more than intended, I think the defense products are slowly moving towards being hybrids of a sort. But all this is part of the technological evolution. e.g. Weather satellites being good enough to also be recon satellites vice versa.
  7. emotionless_teenage
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    emotionless_teenage FULL MEMBER

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    it's called modularity

    i wonder what kind of weapon turkey exported to the philippines?ACV-300?