At the signing ceremony, held at TAI facilities on 12 January 2005, the Lockheed Martin of Turkey, Inc. (42%) and General Electric International, Inc. (7%) shares of TAI, which was established under the Turkish Commercial Code and Foreign Investment Encouragement Law on 15 May 1984, were transferred tothe Turkish Aircraft Industries, Inc. (TUSAŞ ). Currently, the shareholders of the Company are Turkish Aircraft Industries (TUSAŞ ), the Turkish Armed Forces Strengthening Foundation and the Turkish Aeronautical Association.
With the “Share Purchase Agreement,†inked by Mr. Murad Bayar; TUSAŞ Chairman of the Board and Mr. Muharrem Dörtkaşlı, General Manager of TUSAŞ on behalf of TUSAŞ, Mr. Larry McQuien, President of Lockheed Martin of Turkey Inc. on behalf of Lockheed Martin of Turkey, Inc. and Mr. Brett BeGole, General Manager of Business Development for GE Transportation on behalf of General Electric International, Inc., the 98% shares of TAI were transferred to TUSAŞ. With the signing of the “Share Purchase Agreement,†as a result of the activities, started six months ago, TUSAŞ and TAI companies are planned to merge in a short period of time.
With this important development in the Turkish Aerospace Industry, a major step in the “restructuring†period of the Turkish Defense Industry companies, that are controlled bythe Undersecretariat for Defense Industries and Turkish Armed Forces Strengthening Foundation, has also been taken.
The Undersecretary for Defense Industries Mr. Murad Bayar, who also holds the title for Chairman of the Board of TUSAŞ, in his speech, after the ceremony, stated that “the final act in establishment of an aerospace company†during the Turkish Republic period was the establishment of TUSAŞ in 1973 in line with the “The future is in the skies†vision set by Great Leader Atatürk over 80 years ago.
Bayar, underlined in his speech the fact that “in the environment of those days, it seemed to be the best solution for TAI to be established with foreign partnership,†and went on saying that “during this period, TAI gained enough experience to compete in the world market.†Thanking the partners for their support, Bayar, who stated that he hopes for further development of project-based partnership between them, and that JSF will be the best example of such a partnership. Bayar also pointed out that it is time for indigenous engineering activities.
http://www.tai.com.tr
With the “Share Purchase Agreement,†inked by Mr. Murad Bayar; TUSAŞ Chairman of the Board and Mr. Muharrem Dörtkaşlı, General Manager of TUSAŞ on behalf of TUSAŞ, Mr. Larry McQuien, President of Lockheed Martin of Turkey Inc. on behalf of Lockheed Martin of Turkey, Inc. and Mr. Brett BeGole, General Manager of Business Development for GE Transportation on behalf of General Electric International, Inc., the 98% shares of TAI were transferred to TUSAŞ. With the signing of the “Share Purchase Agreement,†as a result of the activities, started six months ago, TUSAŞ and TAI companies are planned to merge in a short period of time.
With this important development in the Turkish Aerospace Industry, a major step in the “restructuring†period of the Turkish Defense Industry companies, that are controlled bythe Undersecretariat for Defense Industries and Turkish Armed Forces Strengthening Foundation, has also been taken.
The Undersecretary for Defense Industries Mr. Murad Bayar, who also holds the title for Chairman of the Board of TUSAŞ, in his speech, after the ceremony, stated that “the final act in establishment of an aerospace company†during the Turkish Republic period was the establishment of TUSAŞ in 1973 in line with the “The future is in the skies†vision set by Great Leader Atatürk over 80 years ago.
Bayar, underlined in his speech the fact that “in the environment of those days, it seemed to be the best solution for TAI to be established with foreign partnership,†and went on saying that “during this period, TAI gained enough experience to compete in the world market.†Thanking the partners for their support, Bayar, who stated that he hopes for further development of project-based partnership between them, and that JSF will be the best example of such a partnership. Bayar also pointed out that it is time for indigenous engineering activities.
http://www.tai.com.tr