Turkish defense giant Aselsan continues to grow in 2020

The Turkish defense giant Aselsan, which closed last year with sound financial results, announced that it continued to grow in 2020 despite negative global conditions.

"Aselsan continued its growth trend in the first three months of 2020 without losing momentum and managed to receive more than $320 million of new orders," Haluk Gorgun, the CEO of the company, said on Thursday in a press release issued on the Public Disclosure Platform.

Aselsan will keep supporting its production power and research and development activities with strong financial results in 2020, as it did in 2019, Gorgun noted.

He stressed that the novel coronavirus pandemic reveals the "fragility of the production and supply chains on a global scale."

"Aselsan has designed the supply system by predicting possible crisis scenarios," he added.

The company will continue to the nationalization and localization efforts, he said.

"Aselsan works with reserve inventory in critical materials due to the strategic nature of its products.

"We do not have an urgent need for procurement from the USA and other countries, and our production will not be affected by possible supply problems in the near future," he noted.

Aselsan is the largest defense company in Turkey and is among the top 100 defense companies globally.