Turkey’s TOMA manufacturer posts record profit

Turkey’s TOMA manufacturer posts record profit

ISTANBUL - Doğan News Agency
Turkey’s TOMA manufacturer posts record profit Turkey’s leading producer of infamous riot control vehicles with water cannons, popularly known as TOMAs, posted record profits and revenue in 2015 - the highest since the company’s foundation some 30 years ago. 

Katmerciler Ekipman, the company that manufactures TOMAs, announced that its income increased by 83 percent to 310 million Turkish Liras last year, while real operating profit increased by 153 percent to 45.7 million liras, in a statement to the Public Disclosure Platform. Accordingly, the net profit of the company rose by 103 percent to 18.6 million liras.

The company had signed an agreement with the Security General Directorate for 25.46 million euros to produce 115 vehicles in total. This agreement included the production of 65 trucks for 13.68 million euros in October 2014, as well as 50 trucks for 11.78 million euros in November 2014. 

The Aegean İzmir province-based company, which is owned by a former deputy of the ruling Justice and Development Party (AKP), İsmail Katmerci, emerged as one of the biggest winners from the nationwide Gezi Park demonstrations of 2013. 

Company CEO Mehmet Katmerci said his goal was to elevate the company to “play a part in the defense industry,” adding their investments in national and international platforms were set to continue. 

A statement released by Katmerciler in December 2015 underscored plans to invest $2 million to build a new factory in Ankara, seeking to meet the demands of Turkey’s security forces.

The company, which was established in 1985, also produces less controversial vehicles, such as fire trucks and water tankers.