Turkish defence vehicle manufacturer Otokar [BIST: OTKAR] has signed a share purchase agreement to acquire 96.77% of Romanian defence company Automecanica SA for approximately €85 million, marking a key step in establishing a permanent industrial presence in Europe.
The agreement, signed on 29 April 2026, remains subject to regulatory approvals in Romania. Once completed, the acquisition will give Otokar direct ownership of a production facility in Mediaş, enabling the company to carry out manufacturing activities within the European Union under its own control.
The move follows Otokar’s contract with the Romanian Ministry of National Defence for the supply of 1,059 COBRA II 4×4 tactical wheeled armoured vehicles, valued at approximately €857 million. The programme remains one of the largest land vehicle procurements in Europe in recent years.
Otokar stated that production preparations at the Mediaş facility were completed and that initial manufacturing activities have begun. The plant, built on a 140,000 square metre site, will support welding, painting and final assembly processes. The assembly line is expected to become operational in June.
Earlier deliveries under the programme have already been made, with COBRA II vehicles produced in Türkiye entering service with the Romanian Armed Forces.
The acquisition gives Otokar direct control over an EU-based manufacturing asset, moving beyond project-based partnerships toward a sustained production presence in the European defence market.
