Turkey's Ozbal Celik, RC Muhendislik JV wins 63 mln lira (21 mln euro) wagon repair deal

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)