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● Other
TEMSA, Turkey’s leading bus producer, has been awarded a contract worth €46.5mn by Romania’s interior ministry to deliver 326 buses. The company will meet the order over the next two years. Earlier this year, TEMSA sold 50 buses and midibuses to Barraqueiro Transport, the largest tour operator in Portugal. More than 15,000 vehicles, produced by TEMSA, are currently on the road in 66 countries in the world. In May, Sabanci Holding, one of Turkey’s largest conglomerates, sold its 48.7% stake in TEMSA for Turkish lira (TRY) 182mn to True Value Capital Partners.
German carmaker Volkswagen was expected to announce a major investment in Turkey within two weeks, local daily Hurriyet has reported in June. VW has been planning to shift some of its production to an Eastern European country for some time because its plants in Germany are to focus on electric vehicles. Initially the company’s list of potential hosts included five countries, but the company has since narrowed the choice down to Turkey and Bulgaria. But the new investment site will probably turn out to be in the western Turkish province of Manisa as the current economic situation in Bulgaria does not make the country a suitable candidate, according to the newspaper. According to the newspaper, the German carmaker plans to invest as much as €2bn in the plant in Manisa which will manufacture the Seat Ateca and Skoda Karoq models of the VW group’s subsidiaries. The report on the German giant’s investment has emerged at a time when Turkey’s automotive industry is facing serious problems.
9.2.2 Transport corporate news
● Turkish Airlines
81 TURKEY Country Report July 2019 www.intellinews.com