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| - The roots of Uzel Corporation reach back to 1864 when the Uzel family began making and selling phaetons in the city of Rousse in Bulgaria, which was then part of the Ottoman Empire. Uzel’s hand-built phaetons prove popular, and were shipped and used all over the empire. In 1937, the foundations of the Uzel Group were laid in Turkey. İbrahim Uzel, the founder and the first Chairman of the Uzel Group, set up a sole proprietorship in Bursa and began making leaf springs for motor vehicles. In 1961, Ibrahim Uzel’s dream of building motor vehicles was realized with the production of the company’s first agricultural tractors.
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| abstract
| - The roots of Uzel Corporation reach back to 1864 when the Uzel family began making and selling phaetons in the city of Rousse in Bulgaria, which was then part of the Ottoman Empire. Uzel’s hand-built phaetons prove popular, and were shipped and used all over the empire. In 1937, the foundations of the Uzel Group were laid in Turkey. İbrahim Uzel, the founder and the first Chairman of the Uzel Group, set up a sole proprietorship in Bursa and began making leaf springs for motor vehicles. In 1961, Ibrahim Uzel’s dream of building motor vehicles was realized with the production of the company’s first agricultural tractors. In 1997, a 15% of Uzel was sold on the İstanbul and London stock exchanges in an IPO coordinated by Morgan Stanley. In 2005, in order to align itself with global competitive conditions, Uzel relocated its headquarters to Amsterdam in the Netherlands and redesigned its corporate identity. Uzel Corporation acquired Holder GmbH, one of Europe’s oldest tractor-makers. A distributorship agreement is signed with Kverneland, a leading name in the global market for agricultural implements. Advanced-technology implements go on sale under the Uzel-Kverneland name. Implement and combine harvester production line commence operation. In 2006, Uzel introduced 16 new models in tractors and implements. Launched in 2006, Uzel Cottoncraft cotton harvesting machine and Uzel front loaders drew much interest from the farmers. An agreement made with a UK company, brings along increased capacity in leaf spring production. Uzel also signed an agreement with Sampo Rosenlew, a Finland-based manufacturer of combine harvesters, to import combines to Turkey under the Uzel name. Mirage motorcycles and ATV models go on sale. Based on its outstanding achievements secured in Turkey as Century 21 Turkey, Argentum Ventures N.V. acquires the Century 21 master franchise license from Realogy for Germany, Croatia, Slovakia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, Azerbaijan and Hungary in 2006, becoming the first Turkish company to undersign such an achievement in Europe. In 2007, Uzel was successful in buying 51% of the Ursus Tractor Factory, manufacturer of the Ursus brand of tractors, and a former Massey Ferguson licensee. In 2008 it was announced that Uzel hadn't kept up to its commitments, and TAFE and Pol-Mot were interested. In mid-2008 it was announced that Uzel was bankrupt, and that Massey Ferguson (AGCO) has canceled their license for MF tractors and equipment. Beginning in 2009, Uzel began producing the same tractors, (formerly Massey Ferguson, under the Uzel name, but began using some Deutz engines instead of the traditional Perkins/Perkins-licensed engines.
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