FNSS announced a landmark agreement that underscores a long-standing partnership and mutual respect. Under the agreement, Nurol Holding will acquire the 49% of shares held by BAE Systems in FNSS Savunma Sistemleri A.Ş., securing full ownership of the renowned Turkish defence company.

The acquisition, recently agreed, is now under approval process by the Turkish Competition Authority. The acquisition will be official after this final approval process. As the majority shareholder with 51% of this long-standing partnership for several decades, Nurol Holding will become the 100% owner of FNSS.

This strategic acquisition is poised to bolster FNSS's innovative capabilities, expand its reach in both local and international defence markets and support enhanced financial growth.

For over 35 years, FNSS has been highly regarded as a joint venture, that has earned the reputation of being a globally trusted and respected Turkish defence company. Its vision and mission are firmly rooted in providing value to its users and stakeholders through innovative solutions. The acquisition of full ownership by Nurol Holding ensures the continuation of FNSS's legacy, maintaining its unique brand identity and its strategic vision, which fully align with Nurol Holding's broader defence objectives.

FNSS’s robust vehicle and turret portfolio, including its flagship brands such as KAPLAN, PARS, OTTER, MAV, ACVAD, SABER and TEBER, among others, will remain intact, continuing to thrive under their FNSS identity. Full ownership by Nurol Holding will align FNSS with a unified strategic vision in concert with the strategic goals of the Presidency of Defense Industries (SSB) and Nurol’s long-term objectives, allowing for streamlined operations and concentrated growth efforts.

Nurol Holding extends its sincere gratitude to BAE Systems for its goodwill and contribution throughout 35-years of partnership. FNSS, Nurol Holding and BAE Systems affirm their commitment to maintaining their long-standing spirit of cooperation, which has been a hallmark of their partnership.

Nurol Holding is committed to FNSS’s enduring corporate structure and culture, promising no foreseeable changes to its field of activity, mission, or business strategies. Instead, drawing on Nurol’s extensive industry experience and resources, FNSS is set to achieve greater heights under its full ownership.

Throughout the approval process, Nurol Holding will maintain transparency and frequent communication. FNSS leadership will actively engage stakeholders, ensuring the core values of trust and excellence remain at the forefront while maintaining FNSS's position as a key player in the global defence market.

FNSS CEO Kadir Nail Kurt, said: “With Nurol Holding’s comprehensive support and the synergy created within the group, FNSS is well-positioned to continue to achieve ongoing success based on innovation and sustainability. With its new structure under 100% ownership of Nurol Holding, FNSS will continue to fulfil all its regulatory, contractual, and financial obligations and responsibilities.”

FNSS is a globally recognized land systems company that specializes in designing and producing wheeled and tracked armoured combat vehicles as well as combat engineering vehicles, turrets and sustainability solutions.

FNSS offers innovative solutions throughout the entire product life cycle; from the design phase to the end of service life. Ever since the first roll-out in 1990, the Company has continuously improved its vehicle design and production capabilities in line with the requirements of its users. FNSS’ KAPLAN class tracked armoured product family and PARS wheeled armoured vehicles are poised to shape new generation combat vehicle trends well into the 21st century.

NUROL is a group of companies that started its operations with NUROL Construction established in 1966 and has been growing with the investments it has made with the companies it has structured in various sectors by putting special emphasis on efficiency and quality.

NUROL Holding was founded in 1989 under the management of brothers Nurettin, Erol, and M. Oğuz ÇARMIKLI and continues its activities with an understanding of social responsibility and prioritizing what is best for society and the environment. The Çarmıklı Family is the owner of one of Türkiye’s leading groups, which has built superior brand equity with over half a century of commercial experience and know how, preserving its commitment to traditions, and taking the utmost care to ensure that family values and corporate values are in harmony.