April 29, 2009 / 12:43 PM / 10 years ago

UPDATE 1-Turk Aselsan agrees deal with Finmeccanica unit

* Deals with Finmeccanica unit, Chilean army

* Chilean tank modernisation project seen worth $150 mln

* Shares up 7 pct

ANKARA, April 29 (Reuters) - Turkish defence equipment maker Aselsan (ASELS.IS) said on Wednesday it had agreed to a partnership with a unit of Italy’s Finmeccanica SIFI.MI for work on defence systems for a new type of submarine.

Under the deal Finmeccanica unit WASS and Aselsan will integrate WASS-manufactured Black Shark torpedoes into the submarine’s anti-torpedo defence system.

The agreement on the project, for which no value was given, could be expanded to include torpedo production at a later date, the company said in a statement.

Shares in Aselsan were trading 7.33 percent higher at 4.10 lira, outperforming a positive Istanbul stock exchange.

Germany’s HDW and Great Britain’s MFI won a tender last July to procure six submarines for Turkey’s armed forces. The project is expected to be worth approximately $2.5 billion.

Aselsan said earlier on Wednesday that it planned to sign a contract with the Chilean armed forces to help modernise a fleet of 100 Leopard tanks.

The project with Chile is estimated to be worth $150 million, the company said in a statement to the stock exchange.

Aselsan, which is also working with Lockheed Martin in a multi-nation F-35 fighter jet project, said it was also looking at other partnerships with Chile.

A Turkish Defence Ministry official said on Tuesday that he expected Aselsan’s share from the F-35 project to reach $1 billion. (Reporting by Zerin Elci, editing by Will Waterman)

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