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Turkish President Recep Tayyip Erdogan will attend the groundbreaking ceremony of a new project run by Turkish defense giant Aselsan, Bloomberg reported, citing people familiar with the matter. The company will celebrate its 50th anniversary on Wednesday, August 27.
Erdogan is scheduled to appear at the construction site of Aselsan’s Ogulbey Technology Base near Ankara on Wednesday, the report said, quoting people who asked not to be identified.
Aselsan announced in early August that it signed direct and indirect export contracts worth $1.3 billion in the first six months of 2025, a record achievement as the company pursues an export-oriented growth strategy.
Also in August, the defense giant signed an export contract worth $54 million with a customer in the Middle East and Africa region.
In a statement filed with the Public Disclosure Platform, Aselsan said the deal covers the direct sale of radar and command-and-control systems.
The company’s revenue rose 11.3% year-over-year in real terms to 53.7 billion lira ($1.32 billion) during the January-June period, driven by deliveries in air defense, electronic warfare, electro-optics, radar, avionics, security and weapon systems.
Aselsan’s market capitalization has surpassed $21 billion, making it the most valuable company on Borsa Istanbul, according to company statements filed with the Public Disclosure Platform.
Additionally, Aselsan’s valuation on Borsa Istanbul reached 827.6 billion lira, reinforcing its position as one of the exchange’s most valuable companies.
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