Martur (IFC-38025)

Regions
  • East Asia and Pacific
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 5, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MARTUR SUNGER VE KOLTUK TESISLERI TICARET VE SANAYI ANONIM SIRKETI
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 32.86 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 197.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 18, 2025

Disclosed by Bank Aug 5, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The project involves partial financing of Martur’s investment program in Turkey and Romania through IFC’s equity investment in the company (“the project”). IFC considers to have between 5% and 6% shareholding in the company. The project sponsor is Ustunberk Holding A.S. (“Ustunberk Holding” or the “sponsor”) which is a leading group of companies supplying high quality components for car interiors to automotive industry for over 20 years, and is majority shareholder in Martur.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Martur, together with its subsidiaries, engage in design and manufacturing of seats as well as other interior parts for passenger cars and light commercial vehicles. The company produces for renowned local and international automotive manufacturers through its facilities located in Turkey, Romania, Russia and Algeria.

Martur’s major subsidiaries include (i) Fompak - manufacturing plastics and foam, (ii) Bestal - manufacturing metal stamping, tube bending and welding, (iii) Berk Otomotiv - vehicle conversion, (iv) Indesta Otomotiv - purchasing and selling iron plate and wire with or without partial processing for seat of vehicles and; (v) Martur International- covering international operations.

Subsidiary websites are found here:

Fompak: http://www.fompak.com.tr
Bestal: http://www.bestal.com.tr
Berk Otomotiv: http://www.berkotomotiv.com.tr
Indesta Otomotiv: http://www.indesta.com.tr

Martur has 7 facilities of its own in Turkey, and 3 facilities under its subsidiary Martur International in Romania, Russia and Algeria. Fompak has 5, Bestal and Berk each have a single facility, all located in Turkey. All facilities in Turkey are located in or cities around Bursa where most of automotive industry in Turkey is present.

Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Project Sponsor is Ustunberk Holding A.S. (“Ustunberk Holding” or the “Sponsor”) which owns Martur’s majority shareholding. Ustunberk Holding’s main area of focus is automotive parts industry through Martur and its subsidiaries. Ustunberk Holding is established in Turkey and is privately owned by Ustunberk Family. Martur’s current shareholding structure is as follows: 87.8% by Ustunberk Holding and 12.2% by Ustunberk family, other Ustunberk companies and management.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Martur (“Martur” or the “company”- http://www.martur.com.tr), together with its subsidiaries, engage in design and manufacturing of seats as well as other interior parts for passenger cars and light commercial vehicles. The company produces for renowned local and international automotive manufacturers through its facilities located in Turkey, Romania, Russia and Algeria.

Martur’s major subsidiaries include (i) Fompak (http://www.fompak.com.tr)- manufacturing plastics and foam, (ii) Bestal (http://www.bestal.com.tr)- manufacturing metal stamping, tube bending and welding, (iii) Berk Otomotiv (http://www.berkotomotiv.com.tr/)- vehicle conversion, (iv) Indesta Otomotiv (http://www.indesta.com.tr)- purchasing and selling iron plate and wire with or without partial processing for seat of vehicles and; (v) Martur International- covering international operations.

Martur has 7 facilities of its own in Turkey, and 3 facilities under its subsidiary Martur International in Romania, Russia and Algeria. Fompak has 5, Bestal and Berk each have a single facility, all located in Turkey. All facilities in Turkey are located in or cities around Bursa where most of automotive industry in Turkey is present.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Ustunberk Holding A.S. Undisclosed - owns Martur Sunger ve Koltuk Tesisleri Tic. Ve San. A.S. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works