Turkey’s top industrial companies are refiners, foreign carmakers

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Turkey’s leading manufacturers comprise oil refiners and makers of foreign branded cars, according to a 2020 ranking published on Wednesday by the Istanbul Chamber of Industry (İSO).

Tüpraş, a refiner owned by Turkey’s Koç Holding, was the largest manufacturer in the country with annual net sales from production of 58.6 billion liras ($6.93 billion), İSO said in an annual report. The local subsidiaries of Ford, Renault and Toyota followed, with sales ranging from 30.8 billion liras to 45.2 billion liras.

The rankings of the top four companies were unchanged from 2019, İSO said. It did not name Turkey’s fifth-largest company, which improved its ranking from ninth place in 2019.

Oil refiner Star Rafineri, owned by Azerbaijan’s SOCAR, home appliance maker Arçelik, also controlled by Koç, carmaker TOFAŞ, a partnership between Koç and Italy’s Fiat, and steelmakers Erdemir and İsdemir made up the rest of the top 10. They posted sales of between 16.9 billion liras and 24 billion liras, ISO said.

Ahval

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