News BMC's New Owner Tosyali Holding and Tank Palet Factory

Test7

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BMC was sold to Tosyali holding. The majority of the company's shares were transferred to Tosyali. Also, new CEO is Murat Yalcintas..

Tosyali Holding still has production facilities in 9 different sectors, mainly iron and steel..

%51--->Tosyali Holding
%49--->QAFIC

 

Okan

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Why Ethem Sancak sold his shares after he started or took over many projects? Mega BMC factory, Altay, new 8X8, many armored vehicles...
 

Nutuk

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Nice way of Business, Ethem took a lot of tenders without delivering. BMC got lot of incentives. They got a large area of land for free in Karasu, there is still no factory build!

Sell the stuff and let all responsibility to new owner, I am sure the new owner may even disown the responsibilities and negotiate new agreements, state get's f'cked
 

Saithan

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He pocketed the money his set for life.
Well, he probably got something for his loyalty. He's former politician too.

I guess the friendship circle of RTE keeps BMC in their hands. Well, new government can change all that too, so let's hope they keep delivering to TSK.

Of course I am hoping Tosyali is more capable than an old man with money.
 

Huelague

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Why Ethem Sancak sold his shares after he started or took over many projects? Mega BMC factory, Altay, new 8X8, many armored vehicles...

Because he is a Bus manufacturer. And now, he is aware of this.
 

Tornadoss

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I wonder now how will things proceed with Altay tank and the factory. Btw is BMC power also sold with BMC? I am not aware of the structure of the company.
 

Stuka

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BMC Representatives disappeared from TOGG.

1623850418750.png
 

Xenon54

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Soooo, where are all the people who were defending BMC getting Altay the tender?
Hmm, its so quiet in here, i wonder why.
 

Inspector_spacetime

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Soooo, where are all the people who were defending BMC getting Altay the tender?
Hmm, its so quiet in here, i wonder why.
I don't understand what there is to be defended? The tender still belongs to BMC doesn't it?

This is how business works by the way guys. Shareholders can sell their shares to other investors and the company in question will still operate the same way it did as before. Getting a new owner does not nullify any tenders, procurements or investments. Not only that, the new investor, Tosyali Holding most likely bought the company because of all the projects on BMC's plate.

Personally, I don't feel either way about whoever the owner is of BMC or any other company. I analyze the strategy (try to at least) of companies themselves to get a better picture of what the company is about and what their goal is.
However, I am hoping all the ideological discussions revolving around BMC will be put to rest with the new majority owner (Tosyali) and CEO (Yalcintas), because those discussions were really disappointing and frustrating to see, to say the least.

I don't know the details regarding this aqcuistion, but juding from the source in the original post, Tosyali Holding bought the majority shares and the Ethem Sancak was replaced. This suggests that Tosyali bought Ethem Sancak's shares but this is not certain. I doubt the Qatari's sold their shares within the company though as Qatar's strategy for investment suggests that they seek to be independent from oil exports as well as (I think) to minimize risk regarding military hardware procurement.
 
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Inspector_spacetime

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Why Ethem Sancak sold his shares after he started or took over many projects? Mega BMC factory, Altay, new 8X8, many armored vehicles...
There could be loads of reasons for this. We can't know for certain unless he says why he sold.

My guess is, the discussions in media and politics could have had a big play in his decision. If I were in his shoe's, I wouldn't have appreciated my name being used in stupid political discussions and probably would've sold out of my shares if there was a good offer on the table as well. Would've even thought that it would be the better move for the company as well. BMC no longer being used for political propanda will be advantageous for the company (or actually, it will probably mitigate the disadvantage somewhat (the Qatar argument is still in play though)).

I wonder now how will things proceed with Altay tank and the factory. Btw is BMC power also sold with BMC? I am not aware of the structure of the company.
It depends on BMC's structure. If BMC power is its own entity then, no it doesn't. If BMC power is a subdivision of BMC, or if the main or partial shareholder of BMC power is BMC itself, then whoever owns BMC also (patially) owns BMC power.
 
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Huelague

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You can win all the tenders helped by your buttbuddies, it doesn’t mean that you are able to produce a tank, Engines, fighter Jets , high speed trains, bridges, canals ...
 

Inspector_spacetime

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You can win all the tenders helped by your buttbuddies, it doesn’t mean that you are able to produce a tank, Engines, fighter Jets , high speed trains, bridges, canals ...
If a company wins a tender, then by default it means that they are capable of delivering what is promised within the tender. Here's why; those involved in the tender process, assess and analyze not only the offers but also the capabilities of all the candidates and select a winner for these tenders accordingly. All these projects are too important to fail, so the screening of these companies is done accordingly. Those involved in these tenders are pre-selecting companies according to their capabilities and then invite companies to take part in these tenders (unless it's an open tender, but even then there are conditions a company must meet).
 

Stuka

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Interesting Discovery.

Former Stake owner of BMC, Taha Yasin Öztürk. (25%) apparently Decided to Delete his accounts after selling his stakes to Tosyali Group.

- Instagram: https://www.instagram.com/tahayasinozturk/
- LinkedIN
- Twitter
- Website

All Gone.

Tosyali paid approx. 480M USD. He likely made 240M USD from the selling of his shares alone.

1626286875938.png
 

Saithan

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Ethem Sancak was a former politician and were even in TBMM as I recall it. So he id not stranger to politics. Trying to make him stand out as s normal business man is far from the truth.

Even the Tank Palet factory video you shared shows his commitment to RTE ( video was shared multiple times).

Also ppl should look at this beyond just the surface. Steel prices have grown 20-30%. Tosyali is leading steel producers. We don’t know if the price is still valid, and how much the steel price will be. Normally you’d have to amend all contracts accordingly with price changes/inflation.

The Altay tender should be redone.
 
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Stuka

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Ethem Sancak was a former politician and were even in TBMM as I recall it. So he id not stranger to politics. Trying to make him stand out as s normal business man is far from the truth.

Even the Tank Palet factory video you shared shows his commitment to RTE ( video was shared multiple times).

Also ppl should look at this beyond just the surface. Steel prices have grown 20-30%. Tosyali is leading steel producers. We don’t know if the price is still valid, and how much the steel price will be. Normally you’d have to amend all contracts accordingly with price changes/inflation.

The Altay tender should be redone.

As you have pointed it out, The Names are placeholders. If the Tender would be redone BMC would get it again.

> Irony aside they almost Finished the Factory where Tanks are supposed to be build at Karasu. There is ZERO chance that the tender will be redone.

1626306286560.png
 

Saithan

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As you have pointed it out, The Names are placeholders. If the Tender would be redone BMC would get it again.

> Irony aside they almost Finished the Factory where Tanks are supposed to be build at Karasu. There is ZERO chance that the tender will be redone.

View attachment 25798
At least that’s a positive news. I am sure that factory isn’t just for Altay, but other vehicles can be produced as well. Let’s cross fingers.
 

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