ANKARA, Turkey - Turkey's leading armored vehicles manufacturer, Otokar, announced it won a $63.2 million deal to sell its six-wheel-drive armored vehicle, the Arma, which it launched in 2010.
Otokar said in a press release that this is the second export contract the company secured after the launch of the Arma. The first contract came from an unnamed Middle East country and was worth $10 million. Otokar did not name the new buyer country for reasons of contractual confidentiality.
Otokar, based in Arifiye, near Istanbul, is owned by Turkish business conglomerate Koc Holding. The armored vehicles maker also is listed on the Istanbul Stock Exchange.
Otokar said it will complete deliveries for the new Arma deal in 2012. CEO Serdar Gorguc said that he saw strong prospective demand for the Arma from an increasing number of armies worldwide. Otokar's armored vehicles have been sold to more than 20 countries, he said.
The Arma is an amphibious tactical wheeled armored vehicle. Company officials say it has a high degree of ballistic and mine protection thanks to its high steel hull. But Otokar's signature product is the Cobra, a four-wheel-drive tactical armored vehicle, exported to nearly 10 countries in the Balkans, the Middle East and Southeast Asia since the mid-1990s.
Otokar also is the Turkish prime contractor for a multibillion-dollar program for the design, development and manufacturing of Turkey's first domestically produced main battle tank, the Altay.
Otokar said in a press release that this is the second export contract the company secured after the launch of the Arma. The first contract came from an unnamed Middle East country and was worth $10 million. Otokar did not name the new buyer country for reasons of contractual confidentiality.
Otokar, based in Arifiye, near Istanbul, is owned by Turkish business conglomerate Koc Holding. The armored vehicles maker also is listed on the Istanbul Stock Exchange.
Otokar said it will complete deliveries for the new Arma deal in 2012. CEO Serdar Gorguc said that he saw strong prospective demand for the Arma from an increasing number of armies worldwide. Otokar's armored vehicles have been sold to more than 20 countries, he said.
The Arma is an amphibious tactical wheeled armored vehicle. Company officials say it has a high degree of ballistic and mine protection thanks to its high steel hull. But Otokar's signature product is the Cobra, a four-wheel-drive tactical armored vehicle, exported to nearly 10 countries in the Balkans, the Middle East and Southeast Asia since the mid-1990s.
Otokar also is the Turkish prime contractor for a multibillion-dollar program for the design, development and manufacturing of Turkey's first domestically produced main battle tank, the Altay.
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