Russian crisis ‘disrupts some business plans of Koç’
AA photoSome plans of Koç Holding have been disrupted and revised due to the crisis between Turkey and Russia, according to the group’s vice chair.
“We made a deal with one of the strongest automotive makers in December 2014 to produce Ford Trucks. Our plans have, however, been disrupted a bit due to embargoes imposed on Russia and some problems between Turkey and Russia. After these problems are resolved and things are becoming normalized again; Russia will be the largest truck market for us,” said Ali Koç, who is also the Ford Otosan Chair, in a meeting in the southern province of Adana on May 30.
He noted that the company planned to sell Ford Truck wreckers, which are completely developed by their own engineers, in 50 countries through distributors in the next four years.
“Our company has the right to sell Ford Truck wreckers, which are developed and made by its own means, in 60 countries on three continents in line with a deal signed in 2010. All Ford Truck wreckers are designed and developed by our local engineers,” he said, adding that the company had commenced the mass production of the wrecker and its engine, which was also developed by local means.
Russia has been the subject of some sanctions for its actions in Ukraine, while Moscow has also barred many Turkish companies from operating in Russia since the Turkish military shot down a Russian warplane along the Turkish-Syrian border on Nov. 24, 2015.