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It was in the top 10 in the world: the sensational story of the bankruptcy of the domestic tractor company Uzel due to domestic conflicts

  • December 1, 2023
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The world famous tractor brand Uzel, which was always in the news in its time, cases and events What? Now let’s look at that interesting story together. İbrahim

It was in the top 10 in the world: the sensational story of the bankruptcy of the domestic tractor company Uzel due to domestic conflicts

The world famous tractor brand Uzel, which was always in the news in 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 five years later, in 1940, he moved the factory to Istanbul. Uzel, who at the time produced scissors, Big change in 25 years lived. Naturally, the scissors mentioned here are a tool part.

Uzel began producing tractors under the Massey Ferguson brand, which entered the country in the 1960s with help from Marshall.

pull yourself

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

Almost half of the tractor market of that 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 died. Good shares are quite spread out.

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

uzel factory

So 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 debts and declining turnover, Önder Uzel took over the company and the company recovered significantly. But in 2003, Önder Uzel, his mother He was sued by Türkan Uzel. Türkan Uzel explained the reason for the lawsuit, saying that she did not even know that she had been transferred from the general meeting to the board of directors and that she could not obtain information about the company.

Even if the case were decided in Önder Uzel’s favor, he would be the one to switch sides.

yourselves case

The brothers Önder and Serdar Uzel, who were immediately found in the business, continued to expand the Uzel company. It even opened factories in many countries. Also brand Uzel 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. The Uzel company was investigated again.

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

Uzel tractor production

The banks’ distrust of the company and suppliers’ fear that they will not get their money problem in production made.

Although the events themselves were a problem, the Ferguson company ended the partnership. Then the 2008 financial crisis broke out. While all companies are in trouble with this crisis, suppliers are trying to save themselves. Uzel began to stretch his waist.

tractor

In this way the company achieved a production flow, not much affected by the crisis. On the contrary, it literally turned the crisis into an opportunity. In addition, employees 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 in which they worked, was back in order meant that they could get their remaining money.

Lawsuits and disputes caused the end of the company.

bankruptcy of the Uzel factory

As production increased and debt payments accelerated, creditors came knocking, family disputes arose and even attacks by relatives on Önder Uzel. ‘to cheat’ Allegations that it was a crime led to the company going bankrupt.

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

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

Uzel factory protest

Fired from his job after the bankruptcy flag was raised 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 returned.

The factory turned into a thieves’ den because 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 in 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 ultimately hundreds of people became victims This story, which can be summarized as: The story of Uzel.

Sources: Kadir Kuru, Hürriyet newspaper

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Source: Web Tekno

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