Page 24 - SAHA EXPO 2024 - DAY 1

FNSS Savunma Sistemleri A.Ş.

Now Under Full Control of Nurol Holding

Nurol Holding will acquire the 49 percent
of shares held by BAE Systems in FNSS
Savunma Sistemleri A.Ş., securing full own-
ership of the renowned Turkish defence
company. FNSS is a globally recognized
land systems company that specializes
in designing and producing wheeled and
tracked armoured combat vehicles as well
as combat engineering vehicles, turrets and
sustainability solutions.

As the majority shareholder with 51 percent
of this long-standing partnership for several
decades, Nurol Holding will become the
100 percent owner of FNSS. This strategic
acquisition is poised to bolster FNSS’s inno-
vative capabilities, expand its reach in both
local and international defence markets and
support enhanced financial growth. FNSS
announced the landmark agreement that
underscores a long-standing partnership
and mutual respect, last week.

FNSS CEO Kadir Nail Kurt, shared, “With
Nurol Holding’s comprehensive
support and the synergy cre- frequent communication. FNSS leadership trends well into the 21st century. FNSS has
ated within the group, FNSS is will actively engage stakeholders, ensuring delivered thousands of armoured combat
the core values of trust and excellence vehicles worldwide.
well-positioned to continue to remain at the forefront while maintaining
achieve ongoing success based FNSS’s position as a key player in the global Nurol Holding also extended its sincere
on innovation and sustainability. defence market. gratitude to BAE Systems for its goodwill
and contribution throughout 35-years of
With its new structure under FNSS has been highly regarded as a joint partnership. FNSS, Nurol Holding and BAE
100 percent ownership of Nurol venture for over 35 years, that has earned Systems affirm their commitment to main-
Holding, FNSS will continue to the reputation of being a globally trusted and taining their long-standing spirit of cooper-
respected Turkish defence company. FNSS’s ation, which has been a hallmark of their
fulfil all its regulatory, contrac- robust vehicle and turret portfolio, including partnership.
tual, and financial obligations its flagship brands such as KAPLAN, PARS,
OTTER, MAV, ACVAD, SABER and TEBER, NUROL Holding was founded in 1989 under
and responsibilities.” Nurol Holding among others, will remain intact, continu- the management of brothers Nurettin, Erol,
has stated that it committed to FNSS’s ing to thrive under their FNSS identity. Full and M. Oğuz ÇARMIK. The Çarmıklı Family is
enduring corporate structure and culture, ownership by Nurol Holding will align FNSS the owner of one of Türkiye’s leading groups.
promising no foreseeable changes to its with a unified strategic vision in concert Through its more than 40 subsidiaries and
field of activity, mission, or business strat- with the strategic goals of the Presidency affiliates, NUROL Holding A.Ş. which is
egies. Instead, drawing on Nurol’s extensive of Defence Industries (SSB) and Nurol’s headquartered in Ankara operates both do-
industry experience and resources, FNSS long-term objectives, allowing for stream- mestically and internationally in numerous
is set to achieve greater heights under its lined operations and concentrated growth industries, including construction and con-
full ownership. efforts. FNSS rolled-out its first vehicle in tracting, defence, mining, real estate invest-
1990 and since then, the company has ment, finance, tourism, energy, trade, and
The recently agreed acquisition is now continuously improved its vehicle design services. As of December 31, 2022, NUROL
under approval process by the Turkish and production capabilities in line with the Holding’s consolidated assets amounted to
Competition Authority. The acquisition will requirements of its users. FNSS’ KAPLAN TRY 79.1 billion, while the group’s revenue
be official after this final approval process. class tracked armoured product family and was approximately TRY 26.8 billion as of
Throughout the approval process, Nurol PARS wheeled armoured vehicles are poised the same date, and the target for 2023 is
Holding will maintain transparency and to shape new generation combat vehicle planned as TRY 37.2 billion.

24 OCTOBER-22-2024 WWW.GBP.COM.SG/DAILY NEWS