MKE Joint Stock Company Law Adopted in the General Assembly of the Grand National Assembly of Turkey

The bill regulating the Machinery and Chemical Industry Institution (MKE) to become a joint stock company was accepted at the General Assembly of the Turkish Grand National Assembly.

Regarding the development, Muhsin Dere, Deputy Minister of National Defense,“MKE INC. Our law was accepted in the General Assembly of the Turkish Grand National Assembly today. We are grateful to everyone who contributed. Congratulations to our country, our nation, our Ministry, our heroic army and all our MKE family. MKE A.S. I hope it will have a structure that will compete with the giants of the world defense industry.”used expressions.

 

According to the law, the Machinery and Chemical Industry Joint Stock Company (MKE A.Ş.) with an initial capital of 1 billion 200 million TL, subject to the provisions of the Turkish Commercial Code and private law, will be established. MKE A.Ş.'s management, supervision, duties, authorities and responsibilities will be regulated. The ministry to which the company is related will be the Ministry of National Defense.

MKE A.Ş. will start operating with the registration and announcement to be made after the signing of the articles of association, which will be prepared with the opinion of the Ministry of Treasury and Finance.

The entire capital of the company will be owned by the Treasury, but the rights and powers of the Treasury, such as voting, management, representation, audit, based on the shareholding in the company, provided that the ownership right and the profit share right are not prejudiced and all financial rights arising from the shareholding remain with the Ministry of Treasury and Finance. It will be used by the Ministry of Defense.

MKE A.S. will be stronger in the future

Increasing its capacity and capabilities day by day with new facilities and modern production lines, MKE A.Ş. In the upcoming period, it will continue its activities without privatization, getting stronger. MKE A.S. With its new structure that will become even stronger, it is expected to make a name for itself both at home and abroad in the upcoming period. Currently, Machinery and Chemical Industry Inc. Today, it is the only structure in the world that can produce weapons and ammunition in all calibers from 5,56 millimeters to 203 millimeters under one roof.

Finally, in the MKEK Barutsan Rocket and Explosives Factory, which was opened in April 2021, the RDX, HMX, CMX production facility, which is called energetic materials, and modular gunpowder production lines were brought to the institution.

MKE A.Ş., which also carries out many important R&D projects, is expected to achieve rapid results in its activities. As far as it is reflected to the public, MKE A.Ş. The main important R&D projects carried out by

  • Hybrid E-Storm Self-Propelled Howitzer
  • Hybrid M113 E-ZMA
  • 76/62 mm Sea Cannon
  • Close Air Defense System (similar to Phalanx)

Source: defenceturk

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