http://www.theturkishtimes.com/archive/02/03_15/business.html
Israel in $700 Mil Turkish tank upgrade deal-report
TEL AVIV, March 10 (Reuters) - State-owned Israel Military
Industries (IMI) has won a $700 million deal to upgrade 170 Turkish
M-60 A1 tanks in the largest-ever arms deal between the two
countries, the Ha'aretz daily reported on Sunday.
The deal, to be signed in the next few weeks, could grow further
since Turkey has 1,000 tanks that need upgrading, the paper
said.
A spokesman for IMI was not immediately available for
comment.
The deal follows four years of talks in which Israel originally
offered to sell Turkey its Merkava tanks but Turkey decided instead
to upgrade its existing tanks, the paper said.
Under the terms of the upgrading, to take place over the next six
to seven years, IMI will set up a production line in Turkey and
transfer technology for the manufacture of some parts to Turkish
firms.
