Katmerciler, the Turkish maker of riot-suppression vehicles known locally as TOMAs, has shifted focus to the armored personnel carrier market with two brands named after dog breeds.
“Our first target is domestic security units with our Pitbull and Kangal APCs,” Furkan Katmerci, the executive vice president of Izmir-based Katmerciler, said in a Feb. 4 phone interview. “Then will come the Middle East and Central Asian Turkic republics.” The stock surged 6 percent to 4.22 liras at the close in Istanbul, its highest level since August 2013.
Katmerciler Arac Ustu Ekipman Sanayi ve Ticaret AS, whose founder Ismail Katmerci is a former lawmaker from the ruling Justice and Development Party, manufactured about 80 percent of TOMAs currently in use by the Turkish police, Katmerci said. On Nov. 17, Interior Minister Efkan Ala told a parliamentary committee in Ankara that security forces had 247 TOMAs in their inventory. Prime Minister Ahmet Davutoglu said Oct. 14 during nationwide protests the government would “buy 10 TOMAs for each one burned,” sending Katmerciler’s shares soaring. […]