TEMSA’s capital will be increased by 143% from 210 million TL to 510 million TL following its acquisition by Sabancı Holding and the PPF Group, according to the company’s press release.
“We are strengthening our capital to have TEMSA attain a stronger and more competitive financial structure in both domestic and foreign markets,” said Cevdet Alemdar, industry SBU president of Sabancı Holding and chairman of the Board of Directors of TEMSA.
TEMSA Transportation Vehicles says it will continue to grow in both domestic and international markets, through the partnership of Sabancı Holding and the PPF Group.
“The Sabancı Group is a group that has undersigned strong worldwide partnerships since the day of its incorporation,” Alemdar said. “As a result, we had brought a significant foreign investment to Turkey through this important cooperation that we had implemented with our partner PPF Group. The capital increase in TEMSA is an indicator of our partner PPF Group's trust in Turkey.”
TEMSA is a coach, bus, and light truck manufacturer in Adana, Turkey.
“TEMSA has been undersigning significant export achievements in Europe, especially in Sweden, Belgium, France, and Czechia,” Alemdar said. “We consider these export moves as the first step of a new success story that TEMSA will write. With the support of our new organizational structure, we have gone through a period in which we will achieve greater success in foreign markets.”