Turkish Otokar to take over Romanian military vehicles producer Automecanica for EUR 85 mln
The Turkish company Otokar announced that it is consolidating its presence in Romania and signed a memorandum of understanding (MoU) for the acquisition of 96.77% of the share capital of Automecanica, a Romanian manufacturer with a long…
iulian ernst · Journalist
· Updated · 2 min read
The Turkish company Otokar announced that it is consolidating its presence in Romania and signed a memorandum of understanding (MoU) for the acquisition of 96.77% of the share capital of Automecanica, a Romanian manufacturer with a long tradition in the defence industry, according to Economedia.ro. Otokar previously set up a 50:50 joint venture with Automecanica (SAROM) to produce Cobra II armoured vehicles, and the deal announced on January 28 means the Turkish company would take over the entire business.
"It is intended that the activities planned within the tender for 4×4 armoured vehicles will be carried out directly through Automecanica," the representatives of the Turkish group stated.
