ExSa, a subsidiary of Sabanci Holding, and PPF IndustryCo (an affiliate of Škoda Transportation) have completed the official processes for the acquisition of Temsa Transportation Vehicles. Temsa, which has been serving the Turkish industry for over 50 years, says it is now back on track to make new investments.
Following the final approvals issued by the related local and foreign authorities, Sabanci Holding, and PPF Group which is the controlling shareholder of Škoda Transportation, took over the management of Temsa.
Temsa expects to become an active player in the Turkish economy once again with its new organisational structure through the partnership established by Exsa Export Sanayi Mamulleri Satış ve Araştırma A.Ş., a subsidiary of Sabanci Holding, and PPF IndustryCo. B.V. (PPF), a member of PPF Group.
Sabanci Holding’s CEO Cenk Alper recapped the process and noted that it is proud and pleased to be reintroducing Temsa to the Turkish economy: “We sold our company to a foreign investment fund last year but Temsa had to stop its operations due to the financial distress the company suffered after the transfer. We are aware of our responsibility towards our home province of Adana, our country and this extremely valuable brand we created, and therefore we wished to take a permanent action. We are very pleased to complete this process with this cooperation that might open new horizons for Temsa in the future. At this point, we would like to particularly thank our banks which have been a part of the solution since day one and made significant contributions for bringing Temsa back to our national economy again with their constructive attitudes. Sabanci Group has a valued reputation for its strong global partnerships. This new partnership will reassure the international investors, the markets and contribute to the national economy.” said Mr. Alper.”
Temsa has exported over 12 thousand vehicles to 66 different countries, including the UK.
