Turkish vehicle manufacturer BMC aims for $1B revenue

BMC, one of Turkey's major commercial and defense vehicle producers, aims to achieve $1 billion revenue by end of 2018, owner of the company Ethem Sancak said on Monday.

BMC was also targeting $5 billion revenue for its next 3 years, he told reporters during a labor contract meeting.

The company will release its well-known vehicles such as trucks named Fatih and Yavuz within this year, he said, adding:

"We will make important steps in the defense industry field. New defense products will be provided."

BMC makes several products, including armored cars and Mine-Resistant Ambush Protected (Kirpi) vehicle for the Turkish military.

It signed an agreement to export armored cars to Qatar last week.

He said the BMC would build a large facility in northwestern Sakarya province.

"We will manufacture all our products indigenously, completely within 36 months," he said.

The company's revenue was $450 million in 2017 and its total number of employees currently stands at 2,213, BMC Chief Executive Officer Bülent Denkdemir said.

He added: "Our 2018 target is to reach $1 billion revenue and 3,000 employees."