How Did Uzel Tractor Go Bankrupt?

The world-famous tractor brand Uzel, which was always in the news during its time, cases and events what? Now let’s look at that interesting story together.

İbrahim Uzel founded the factory in Bursa in 1935. Just 5 years later, in 1940, he moved the factory to Istanbul. Uzel, who was producing scissors at that time, Big change in 25 years lived. Of course, the scissors mentioned here are a tool part.

Uzel started producing tractors under the Massey Ferguson brand, which entered the country with the aid of Marshall in the 1960s.

İbrahim Uzel passed away in 1963, while he was still at the beginning of everything, and the shares of the company share among children was done. Her son Ahmet Uzel received 40%, her husband Cemal Atay, who will manage the shares instead of her eldest daughter, received 40%, and her other two daughters received 10%.

Almost half of the tractor market of the period belonged to the Uzel company. However, the company began to experience turmoil due to family disputes. For this reason, the Zapsu Family, which had a 10% share in the 1990s, decided to sell its shares. In the same period, Cemal Atay, who owned 40% of the shares, also passed away. Well shares are quite dispersed.

Although Ahmet Uzel collected the shares in one hand in 1996 with a loan of 100 million dollars, his life was not enough to continue, and he passed away in 1998.

Therefore, company shares his wife Türkan Uzel, his son Önder Uzel, his other son Serdar Uzel and his daughter Şafak Kibar was shared among them.

Due to high debt and falling turnover, Önder Uzel took over the company and recovered the company considerably. But in 2003, Önder Uzel, his mother He was sued by Türkan Uzel. Türkan Uzel explained the reason for the lawsuit by saying that she was not even aware that she was transferred from the general assembly to the board of directors and that she could not obtain information about the company.

Even if the case was concluded in favor of Önder Uzel, he would be the one to change sides.

Önder and Serdar Uzel brothers, who were found right in the case, continued to expand the Uzel company. It even opened factories in many countries. Also Uzel brand In the market of 85 countries took place.

After 2007, due to the disagreement between them, Serdar Uzel sided with his mother and sister and appealed. changed the course of the case. Uzel company started to be investigated again.

The family turmoil also affected the company’s relationships with banks and suppliers.

Banks’ distrust of the company and suppliers’ fears that they will not get their money problem in production created.

While the events were a problem in themselves, the Ferguson company terminated the partnership. Then the 2008 financial crisis occurred. While all companies are in trouble with this crisis, suppliers are trying to save themselves. Uzel started to straighten his waist.

In this way, the company achieved a flow in production, not much affected by the crisis. On the contrary, it literally turned the crisis into an opportunity. In addition, workers who could not receive their money returned voluntarily. Not just out of good will, of course. The fact that the company, and therefore the factory they worked in, were back in order meant that they could get their remaining money.

Lawsuits and disputes brought about the end of the company.

While production increased and the payment of debts accelerated, creditors came knocking, family disputes and even family members’ attacks against Önder Uzel. ‘cheat’ Allegations that it was a crime led the company to bankruptcy.

The company went bankrupt in 2012; behind his creditors, workers who contributed but were not rewarded for their labor, and leaving the foreign currency he brought to the country gone.

Workers who could not get their rights gathered in front of the factory for days.

Dismissed after the bankruptcy flag was hoisted Workers were sent home without receiving their rights. But they did not want to accept their fate and gathered in front of the factory for days. This did them no good and they eventually turned back.

The factory turned into a den of thieves as no one stayed in the factory. There wasn’t even security. Millions of machines were looted and sold by the kilo. Although the workers wanted to keep watch with the hope that it would reopen, they gave up after a while.

An inspiring start, a company that grows step by step, family events and finally hundreds of people victimized This story, which can be summarized as follows, is the story of Uzel.

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