Kale and Rolls-Royce create joint venture

Dünya Executive - - OVERVIEW -

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.

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