Turkish defense manufacturer Otokar completed the acquisition of a majority stake in Automecanica S.A. and its production facility in Media\u0219, marking one of the largest foreign investments in Romania’s defense industry in recent years. The company said the move will support the local production of COBRA II armored vehicles ordered by the Romanian military.<\/p>\n
Otokar announced that it finalized the acquisition of 96.77% of Automecanica’s share capital after receiving all required regulatory approvals. The transaction is valued at approximately EUR 85 million.<\/p>\n
The acquisition transforms the Media\u0219 factory into a regional production hub for NATO-standard armored vehicles and strengthens Romania’s role in defense manufacturing on NATO’s eastern flank.<\/p>\n
The investment comes as Romania continues efforts to modernize its armed forces and expand domestic defense production capabilities. According to the company, the project will bring manufacturing know-how, technology transfer, and engineering expertise to Romania while increasing local industrial participation in military vehicle production.\u00a0<\/p>\n
Aykut \u00d6z\u00fcner, Otokar CEO, said the completion of the acquisition reflects the company\u2019s long-term confidence in Romania.\u00a0<\/p>\n
\u201cRomania is becoming one of the key defense manufacturing centers in Europe. Our investment is not simply a production decision – it is a strategic partnership focused on industrial growth, technological development, and regional security. We believe Romania has the talent, infrastructure, and strategic importance to become a long-term hub for advanced defense manufacturing,\u201d he stated.<\/p>\n
The acquisition is closely linked to the COBRA II ATBTU program. In November 2024, Otokar signed a contract with Romtehnica for the delivery of 1,059 COBRA II 4×4 tactical wheeled armored vehicles to Romania’s Ministry of National Defense. The contract, worth approximately RON 4.26 billion (around EUR 857 million excluding VAT), is one of the largest military vehicle procurement programs currently underway in Europe.<\/p>\n
Under the agreement, nearly 800 vehicles are to be manufactured in Romania as part of an industrial cooperation framework designed to support the development of the local defense sector and strengthen NATO’s deterrence capabilities in the region.<\/p>\n