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(Sharecast News) - BAE Systems said on Monday that it expects to recognise around 4.6bn from a UK government agreement with Turkey for the purchase of 20 Typhoon aircraft and an associated weapons and integration package.
BAE Systems will manufacture major airframe components, conduct the final assembly of the aircraft and lead weapons integration activities in Lancashire. The weapons package will be primarily provided by MBDA, in which BAE Systems has a 37.5% shareholding.
The deal announced on Monday means the Turkish Air Force will become the tenth air force to operate Typhoon.
Chief executive Charles Woodburn said: "Trkiye's procurement of Typhoon marks the start of a new chapter in our longstanding relationship with this important NATO ally and reinforces the outstanding operational support the aircraft delivers across Europe and the Middle East as a fundamental pillar of defence and security.
"Typhoon is an export success story and demonstrates how investment in defence can fuel significant economic growth and returns across the UK. Today's announcement extends Typhoon production and preserves crucial sovereign skills which underpin the UK's defence and security."
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