Kale and Rolls-Royce create joint venture
Istanbul-based Kale Holding will set up a joint venture with British engineering firm Rolls-Royce to develop aircraft engines, including for Turkey’s planned TF-X fighter jet, the company said on May 8. Kale will have a 51 percent stake in the joint venture, while Rolls-Royce will hold the rest, the statement said. Kale said it aims to develop both civilian and military aircraft engines, including for the TF-X, being built by Turkish Aerospace Industries (TAI), one of several major defense projects that Ankara has launched. In January, Britain and Turkey signed a defense deal worth more than 100 million pounds to develop Turkish fighter jets during a visit to Ankara by Prime Minister Theresa May.