Shares of Turkey's Karsan off 10% after losing U.S. postal tender

Karsan Otomotiv Sanayii ve Ticaret AS

24/02/2021 06:56

GDANSK, Feb 24 (Reuters) - Shares in Turkey-based light
commercial vehicles producer Karsan  KARSN.IS  tumbled nearly
10% after it lost a tender for U.S. postal delivery vehicles.
    The U.S. Postal Service (USPS) said on Tuesday it will award
a multibillion-dollar, 10-year contract to Oshkosh Defense to
manufacture a new generation of vehicles.
    Under the initial $482 million investment, the Oshkosh Corp
 OSK.N  unit will finalize the production design, testing and
vehicle tooling necessary prior to production. The per-vehicle
price was not disclosed.  urn:newsml:reuters.com:*:nL1N2KT2OO
    Karsan's shares down 9.96% at 0714 GMT.

 (Reporting by Canan Sevgili and Halilcan Soran; Editing by
Jonathan Spicer)
 ((halilcan.soran@thomsonreuters.com;
canan.sevgili@thomsonreuters.com;))