ARMTEK REACHES 14 FOREIGN MARKETS IN 2 YEARS

Armtek, the electronics company established in 2018 with an investment of EUR 10m with the aim of reducing Turkey’s foreign dependency in the electromechanical sector, has increased the number of countries to which it exports to 14 in two years. Armtek, a subsidiary of Kologlu Holding, produces medium voltage switching equipment and concrete transformer substations. The company reached a localization rate of 80% and provided uninterrupted services to 16 power distribution companies and their shareholders during the pandemic, according to Cemal Sadiki, General Manager of Armtek. Armtek has recently openedto the South American market and expects to increase the share of exports in its revenues from 20% to 50%.