10.08.2025 22:17
The recent global economic crisis has led to the bankruptcy of numerous companies, with the latest addition to the list being Ata Silah Sanayi A.Ş., a subsidiary of the arms manufacturer Armsan. The company, which exports to over 70 countries, has filed for concordat.
Due to the global economic crisis, Ata Silah Sanayi A.Ş., Turkey's 70-year-old giant weapons company, has also applied for concordat.
ATA Arms and ARMSAN, which are among Turkey's leading shotgun manufacturers with a capital of 150 million TL, have declared bankruptcy due to financial problems.
DECLINE IN EXPORT MARKET
Industry sources state that the reasons for the application include rising raw material and energy costs, fluctuations in exchange rates, and the contraction in export markets.
3-MONTH GRACE PERIOD GRANTED
The Istanbul Anadolu 2nd Commercial Court granted a temporary grace period of 3 months for Armsan Silah Sanayi ve Ticaret A.Ş. and Ata Silah Sanayi A.Ş. The court also appointed a 3-member temporary commissioner board to oversee the concordat.
EXPORTING WEAPONS TO DOZENS OF COUNTRIES
Founded in 1955, the company exports weapons to more than 75 countries. In 2023, the company had an annual production capacity of 150,000 firearms and was conducting trade with dozens of countries across 6 continents. ARMSAN, established in Istanbul in 2006, is particularly known for its semi-automatic shotguns. A significant portion of the company's exports is directed to the European and American markets.