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Turkey's armored water cannon producer makes highest profit in 30 years
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Turkey's armored water cannon producer makes highest profit in 30 years

Turkey’s leading producer of Mass Incident Intervention Vehicles (TOMA), an armed water cannon truck that is also a symbol of police crackdown during Gezi protests, made record-high profit and income in 2015, since its foundation 30 years ago.Katmerciler Company producing TOMA announced that its income increased by 83 percent to 310 million liras, and real operating profit by 153 percent to 45.7 million liras, in a statement to the Public Disclosure Platform.

Turkey's leading producer of Mass Incident Intervention Vehicles (TOMA), an armed water cannon truck that is also a symbol of police crackdown during Gezi protests, made record-high profit and income in 2015, since its foundation 30 years ago.

Katmerciler Company producing TOMA announced that its income increased by 83 percent to 310 million liras, and real operating profit 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 has signed an agreement with the Security General Directorate for 25.46 million euros, bound to produce 115 vehicles in total. This agreement included the production of 65 trucks 2014 for 13.68 million euros in Oct., as well as 50 trucks for 11.78 million euros in Nov.

The İzmir-based company Katmerciler, which produces on vehicle equipment, was founded in 1985.

"Our prior goal is to play a part in the defense industry" said the company's CEO Mehmet Katmerci, adding that their investments in the industry within national and international platforms continue.

Katmerciler has almost founded its brand new factory in Ankara, while the construction of the plant financed by owner's equity is carried on, Mehmet Katmerci added.

A statement released by Katmerciler in Dec. has underscored plans for an investment costing 2 million dollars to build the manufacturing plant in Ankara, seeking to meet demands in the defense industry and needs of security forces. Meanwhile, the company resumes market research in Europe in line with these targets, Katmerciler Company officials said.



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