ISTANBUL (Turkey), December 17 (SeeNews) – A 49/51 joint venture (JV) between Turkish steel pipe maker Ozbal Celik Boru Sanayi Ticaret ve Taahhut [BIST:OZBAL] and local rail wagons and trailers maker RC Muhendislik ve Makine has won a 63.3 million Turkish lira ($26.8 million/21.5 million euro) tender for partial repair of bogite freight wagons, Ozbal Celik said.
The joint venture won the deal in a tender called by Turkish wagon repair firm Turkiye Demiryolu Makinalari Sanayii (TUDEMSAS), Ozbal Celik said in a bourse filing on Tuesday. Ozbal Celik’s cut from the deal amounts to 31 million lira.
Ozbal Celik’s revenue rose 25.7% to 127 million Turkish lira in 2013 but its net loss expanded to 12.8 million lira from 6.0 million lira a year earlier due to higher costs.
(1 euro = 2.9445 Turkish lira)