Invest News DetailTurkishPress.com – The Turkish automotive manufacturer Otokar grew 12 percent in 2008 over 2007, whereas it recorded a profit of USD 34.8 million in 2008. The company raised its turnover by 12 percent to USD 479 million in 2008 year-on-year. Its turnover was USD 428 million in 2007. "Otokar earned some USD 70 million from defense industry product exports", said Serdar Gorguc, the General Manager of the company. Gorguc noted that Otokar's armored vehicle sales rose 25 percent in 2008. Gorguc highlighted that Otokar exported commercial vehicles worth USD 45 million and broadened its distribution network by signing deals with seven new distributors in seven new markets in Europe. He also said the company sold buses to 30 countries and its overall exports rose 16 percent to reach USD 115 million in 2008. Otokar, one of the major automotive manufacturers in Turkey, has been providing solutions to its customers both in commercial and military range since 1963. Otokar is the main supplier of the Turkish Military for 4x4 tactical vehicles. The company heavily invested and upgraded its production facilities by introducing the most modern manufacturing technologies, achieving a great success in its operations. Otokar operates with its nearly 1,200 employees in a 552, 000 m² plant in Sakarya.