BAE Systems is selling its 49% rate in Nurol BAE Systems Air Systems Joint Stock Company (BNA) to Nurol Holding Inc.

BAE Systems has reached an agreement with Nurol Holding to sell its 49% rate in BNA. This decision was taken after a detailed assessment of BNA’s business strategy and BAE Systems’ Air Sector’s long-term objectives in the Turkish market.

Both sides have a common sense of exploring the potential of other opportunities with common interests in the Turkish aerospace sector. The planned sale is expected to be completed this month and Nurol Holding will take full ownership of the company.

Alistair Castle, General Manager of BAE Systems Turkey, said the following on the subject: “The proposal to divest our stake in BNA is in line with our strategy to expand our advanced combat air capabilities in the Turkish market. We have always had a good working relationship with Nurol and will continue to explore opportunities to work together in the future.”

Nurol Holding Board Member Gürol Çarmıklı said: “We are always open to cooperation with BAE Systems, and I believe that our cooperation, which we have carried out with a good working understanding in the past, will lead to new joint opportunities. This decision was taken in line with the business strategies of both parties.”

As a key supplier in the TF-X cooperation project with Turkish Aerospace, BAE Systems has a key role in the long-term strategy of developing the Turkish market.