Turkey in talks with Germany's HDW for supply of six submarines

Turkey says it will purchase six submarines for its navy from a German-led joint venture. Defense Minister Vecdi Gonul says the Kiel-based Howaldtswerke-Deutsche Werft GmbH, or HDW, and its British partner, Marine Force International, were selected over France's DCNS and Spain's Navantia SA. Negotiation are continuing on the final details of the €2.5billion (US$4 billion) deal. The vessels would be built in the Golcuk naval shipyard, near Istanbul, and the first submarine would be delivered in 2015, the minister said after a defense industry meeting on Tuesday. It is not clear when the deal will be signed. The purchases are part of Turkey's plans to upgrade its navy. Today in Business with... [read full story]