Financial Highlights
Founder and Honorary Chairman's Message
Chairman's Message
Executive Committee
Review of 2010 Operations
Borusan Holding
The Borusan Kocabıyık Foundation
Borusan Group
Steel Group
Pipe Group
Flat Steel
Distributorship
The Earth Moving Equipments and Power Systems
Automotive Group
Logistics
Energy
Our Determination to Succeed
Reports
Auditor's Report
Consolidated Balance Sheet
Consolidated Statement of Comprehensive Income
Consolidated Statement of Changes in Shareholders' Equity
Consolidated Cash Flow Statement
Notes to Consolidated Financial Statements
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Distributorship / Earth Moving Equipment and Power System
From left to right:
ERCÜMENT İNANÇ
Chief Operational Officer
MURAT ERKMEN
Executive Committee Member - EME Turkey Director
ÖMER LÜTFÜ METİ
Executive Committee Member - Customer Support Director
ÖZGÜR GÜNAYDIN
Country Director for Kazakhstan,
ASLAN HİÇSOLMAZ
Executive Committee Member - Chief Financial Officer
TOLGA AKAR
Executive Committee Member - Power Systems Managing Director
Earth Moving Equipment
Strategic Positioning
Operations in a wide geographical region: Turkey, Kazakhstan, Azerbaijan, Georgia and Kirghizstan
Distributor of world leading brands, including Caterpillar, Metso, Mantsinen, Hoist, Bucyrus, Atlas Copco and Challenger
The leader in Turkey’s Earth Moving Equipment (EME) market since its inception
Providing suitable solutions in the general construction segment for the increasing substructure needs of developing countries
Providing products and services at global standards for the mining segment at each phase of growth
Becoming one of the main players in the sector by focusing operations on the agricultural sector in Kazakhstan
2010 Highlights
Many of the previous targets were surpassed as 953 new machines were sold in the Turkish earth-moving equipment market, while the rental fleet increased to 165 in volume.
Secondhand sales in Turkey were also successfully increased last year, up to 350 units.
Among distributors of machines of western origin, market leadership in Kazakhstan was maintained.
Our Determination to Succeed
We signed long term growth agreements with our suppliers designed to ensure an increase in market share in the main product groups.
We prepared action plans for various sub segments, including asphalt and industrial, in order to become a major player in every sub segment and strengthen our current position.
In compliance with Caterpillar’s worldwide “Contamination Control Program” all our facilities in Turkey have a five star level rating. Furthermore, our Varvarinskoe project facility in Kazakhstan also has the same rating and is currently the only one in the CIS countries to achieve such a high ranking. The ratings of our facilities in Almaty and Aktau were recently increased to the four star level.
The ongoing engine and component renewal plant investment project in Kazakhstan is near completion.
Many of the previous targets were surpassed as 953 new machines were sold in the Turkish earth-moving equipment market, while the rental fleet increased to 165 in volume.
Power Systems
Strategic Positioning
Our strategy in the distribution of Caterpillar, MaK, and Olympian power system products to Turkey, Azerbaijan, Georgia, Kazakhstan and Kirghizstan is to offer:
Diesel, gas generators, electric and cogeneration solutions to the renewable energy and electric power sectors
Marine engines, generators and complete propulsion systems for every kind of ship production
In addition to management and delivery systems for the petroleum and gas sectors,
comprehensive solutions are offered for all sectors in terms of turnkey projects, engineering, customer support, second hand rental and financing.
2010 Highlights
Our leadership in the area of electric power systems was once again confirmed.
The highest level of sales for the past few years was attained with the Caterpillar and Olympian brands
Success was accomplished in the marine market by working as a partner with manufacturers in the yacht and tugboat segments.
By taking on the distributorship of MaK at the end of 2010 we began to offer a wider range of products for our customers in the transoceanic vessel sector.
Sales revenues generated from the power systems market in Kazakhstan and Kirghizstan showed changes throughout the year. Rapid growth was achieved in particular by providing solutions to customers in the petroleum and gas sectors.
Profitable growth was maintained with regard to power systems in Azerbaijan and Georgia mainly as a result of the long-term customer support agreement signed with BP.
Our Determination to Succeed
By signing up for high revenue turnkey projects we paved the way towards attaining more comprehensive jobs in this area.
In addition to the present CAT and Olympian products, we became the distributor for MaK (in the marine segment) and launched a line of uninterrupted power source products under own brand (Electric Power Systems segment) to offer a more comprehensive solutions package for our customers.
By offering our clients an extended 10-year warranty agreement on all our products we achieved successful results, thereby becoming a model for all other countries in the European, Middle Eastern and African regions where Caterpillar is currently involved.
In becoming more focused on our commitment services we made significant headway in our strategy to provide all services from a single point.
In our 2011-2015 strategic plans we evaluated our segment-based competencies and determined what types of actions to take based on our expectations for the next five years.
During 2011 we intend to increase our segment concentration and market share through the restructuring of the power systems organization in all our Central Asia locations.
Many of the previous targets were surpassed as 953 new machines were sold in the Turkish earth-moving equipmentmarket, while the rental fleet increased to 165 in volume.
Domestic EME Market (Units)
CAT Group Sales (Millions US$)
EME and Power System Group Sales by Region (%)
Borusan Makina ve Güç Sistemleri Corporate Information
Business Arena
Distributor of Caterpillar in Turkey since 1994
The sole distributor of Caterpillar in Azerbaijan, Georgia, Kazakhstan and Kyrgyzstan, as well as in Turkey
Distributorships of brands, including diesel fuel and medium speed MaK marine engines and Olympian diesel and gas generator sets
Representative of the Mantsinen material handling machines, the Metso Nordberg mobile crushing and screening plants, Hoist Liftruck cushion-tire forklifts, Atlas Copco hydraulic crushers and Exxon Mobil in Turkey.
In addition to the brands represented both in Turkey and Kazakhstan, the Company is currently the representative in Kazakhstan of Challenger agricultural machines, as well as the Bucyrus and Paccar mining earth moving machinery.
Services
Sales and after sales services for earth moving equipment
Provide low cost and efficiency increase for customers by renting Caterpillar machines that range from brand new to two years old
The Certified Used Concept supplies a unique warranty service for used equipment in Turkey
Energy systems applications such as diesel and gas motor-cogeneration, mechanical power applications (pump stations, compressor systems, etc.) and emergency
Biogas and landfill turnkey energy plants
Marine system for main and auxiliary engines
Used and rental generator business
Static and dynamic UPS
Presenting financing solutions for all segments
Sectors Served
General and heavy construction, mining and industrial sectors
Textile, steel, chemistry, medicine, ceramic, wood, automotive, food and plastic sectors
In the energy sector: business centers, hotels, airports, hospitals, universities and mass housing projects
Marine sector-related solutions are offered to builders of towboats, mega-yachts, motor yachts, cargo ships, and sea busses
Service Locations
The headquarters of Borusan Makina ve Güç Sistemleri is located in Istanbul. Our dealers, which provide sales and technical services in Antalya, Bursa, Diyarbakır, Trabzon and Trakya, are managed by regional offices in Adana, Ankara, Istanbul and Izmir.
There a total of 27 service locations in Turkey and another 14 in Kazakhstan, Kyrgyzstan, Azerbaijan and Georgia.
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