TEMSA to power up with 143% capital increase
TEMSA Transportation Vehicles is boosting its capital and continues to grow in both domestic and international markets through the partnership of Sabanci Holding and PPF Group, in which Skoda Transportation acts as its subsidiary. At TEMSA, a leading company of in the Turkish industry for over 50 years, a decision to increase its capital by 143 percent has been taken. An injection of capital in which Sabanci Holding and PPF Group will participate equally will increase the company’s capital from TRY 210 million to TRY 510 million.
An Indication of Confidence in Turkey
Cevdet Alemdar, Industry SBU President of Sabanci Holding and Chairman of the Board of Directors of TEMSA, reminded that Sabanci Holding brought TEMSA back to the Turkish economy partnering with PPF Group. Alemdar added: “The Sabanci Group has undersigned strong partnerships worldwide since the day of its incorporation. As a result of this important cooperation with our partner PPF Group, we brought a significant foreign investment to Turkey. The capital increase in TEMSA is an indicator of our partner PPF Group’s trust in Turkey.”
First Step Towards Success
In his assessment of the decision to increase the capital in TEMSA143 by percent, Alemdar noted: “As one may recall, we voluntarily terminated the concordat process at TEMSA in recent months. Today, TEMSA has undersigned significant export achievements in Europe, especially in Sweden, Belgium, France, and Czechia. We consider these export moves as the first step in the new success story which TEMSA will write. With the support of our new organizational structure, we have experienced a period in which we will achieve greater success in foreign markets. Now, we are increasing the company’s capital from TRY 210 million to TRY 510 million, injecting 300 million in capital, of which 150 million will be from Sabanci Holding and 150 million from PPF Group. Accordingly, we are strengthening our capital to for TEMSA to attain a stronger and more competitive financial structure in both its domestic and foreign markets.”
“Today, TEMSA is a brand which has proved itself in the area of electric buses and autonomous vehicles. We exported our first electric bus to Sweden in recent months. In other words, we are now selling our electric vehicles produced in Adana to a country which is influential in electric vehicle technology on the global stage. In addition, the vehicles are provided with their own software and batteries. Skoda Transportation, which operates under the roof of our partner PPF Group, has substantial global experience in electric transportation solutions. This knowledge will pave the way further for TEMSA to expand its product range and markets in the forthcoming period. Hence, we aim to reinforce TEMSA’s leadership in new generation electric vehicles and boost its growth,” added. Alemdar.
Škoda Transportation and TEMSA Synergy
Ladislav Chvátal, PPF Group Chief Officer for Strategic Projects, highlighted the synergy between TEMSA and Škoda Transportation in TEMSA’s future growth plans: “PPF Group has invested in TEMSA with the aim of using its synergies with Skoda Transportation to boost both companies as they expand on the international markets. PPF is therefore delighted that TEMSA and Skoda Transportation have been attracting major customers around the world for its modern and environmentally friendly mass transport solutions. Skoda Transportation’s contribution is electric and hydrogen fuel cell buses.”