TAI’s First Step on Globalisation Acquired an Aviation Company in Hamburg, Germany

15 July 2016

On July 14th 2016, TAI GmbH which was established by TAI-Turkish Aerospace Industries Inc. in Hamburg-Germany has acquired "Grunewald Stade GmbH" owned by Grunewald family in Stade.

Founded with 100% TAI capital, TAI GmbH, also acquired Grunewald Stade GmbH's full rights and properties. In accordance with the purpose of establishment of TAI GmbH, Grunewald Stade GmbH as a subcontractor of AIRBUS will play an important role on TAI's development of the aviation industry by increasing the capacity. TAI assesses the acquisition of the new company as a strategic step in integrating with the aerospace industry in Europe. As a main subcontractor of the giant corporations of the industry like AIRBUS and BOEING, TAI is willing to create more value to Turkish aviation sector and Turkey's economy by developing and producing more sophisticated aviation parts in bigger volumes.

Acquiring a company close to Hamburg, one of the leading aerospace industry hubs in Europe, is part of the TAI's global growth strategy and constitutes an initial step towards becoming a global company.

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