Otokar secures $28.9 million military vehicle export deal

ISTANBUL

Otokar, Koç Holding’s bus and military vehicle manufacturer, has secured an export deal worth $28.9 million.

“Our company has secured an export deal worth $28.9 million, which includes the sale of tactical wheeled armored vehicles, spare parts and training services regarding these vehicles,” Otokar said in a statement to the Public Disclosure Platform (KAP) on July 30.

The deliveries of the orders are expected to be completed until the first quarter of 2019, it added.

The company has not specified the purchaser in the announcement.

The value of Otokar shares saw a 2.48 percent increase in the early trading hours at the Borsa Istanbul stock exchange on July 30, according to Bloomberg.