OYAK and Renault Group Renew Their Partnership in Turkey
29.06.2018

OYAK, Turkey's largest supplementary occupational pension fund, and Renault Group, one of the biggest actors of the global automotive industry, have renewed their half-century partnership. At the signing ceremony held at France on June 26, the parties decided on "continuing with the coherent and strong cooperation for 27 years more". 

The half-century partnership between OYAK, Turkey's largest supplementary occupational pension fund, and Renault Group, one of the biggest actors of the global automotive industry, has restored trust. With the new partnership agreement signed at France on June 26, 2018, two shareholders of MAİS Motorlu Araçlar İmal ve Satış A.Ş. and OYAK Renault Otomobil Fabrikaları A.Ş. said "continuing with the coherent and strong cooperation for 27 years more". Süleyman Savaş Erdem, General Manager of OYAK, and Thierry Bolloré, Chief Operating Officer and Executive Director of the Renault Group, signed the agreement. 

The agreement, bringing the Turkish automotive industry's longest-established cooperation into a new period, covers the industrial and commercial operations of the Renault Group in Turkey.  MAİS will continue with sales, after-sales, parts and servicing processes for Renault and Dacia automobiles. OYAK Renault will continue to play a key role in the manufacturing and export of vehicles, engines and transmission boxes.  The new agreement will not cause any change in the shareholding structure of both parties (51% OYAK and 49% Renault Group in MAİS, and 51% Renault Group and 49% OYAK in OYAK Renault). The new agreement proves the soundness of the relationships between two partners whose common goal is to maintain their industrial and commercial leadership in Turkey. 

Evaluating the new partnership agreement, Süleyman Savaş Erdem, General Manager of OYAK, said: "We are implementing practices that will increase the efficiency, effectiveness and profitability of OYAK and its group companies as a global actor. Automotive is among the operations that we attach utmost importance. With this agreement, we have extended our partnership with the Renault Group for 27 years. We are really excited and proud that this cooperation will provide a significant added value to both companies, as well as to the Turkish economy. Automotive is a leader sector with 21% share in the export volume, which totals around 150 billion dollars. OYAK Renault ranks first in the automobile export with 288 thousand units. In the domestic market, we have completed the year 2017 as the leader brand, which is an indicator of the trust of Turkish consumers to OYAK and Renault. This success is the fruit of sound cooperation and partnership between two groups.  In the new period starting with this agreement, there will be a significant improvement and increase in the profitability of two automotive group companies. We have no doubt that this renewed agreement will bring along new achievements. We have trust in the future of Turkey and we will continue with our investments without slowing down."

Thierry Bolloré, Chief Operating Officer and Executive Director of the Renault Group, said: 

"Today, the Renault Group is opening a new page in the history of Turkey with the renewal of agreement. With the contributions of MAİS, we are the leader in Turkey where we have presence for 50 years and still operate with our Renault and Dacia brands. Turkey is the 6th biggest market of the Renault Group in global. We are also one of the biggest investors in Turkey and we rank first in the passenger car export. We want to continue this success dynamism with our partner OYAK with whom we have restored trust mutually.  OYAK Renault Fabrikaları, contributing to the success of the Renault Group in Turkey and Europe, is one of the best factories of the Group in terms of quality and performance. Renewal of our partnership paves the way for developing new projects in Turkey for Renault."