Who owns FEMSAN? Founding, shareholders and management
Who owns FEMSAN? Femsan Elektrik Motorları San. ve Tic. A.Ş. is a privately held Turkish company. Ertuğrul Ülker, named in company statements and the trade press, serves as chairman of the board; Latif Cengiz has held the position of group CEO since November 2023. The company was founded in Istanbul in the 1988-1989 period by three partners with backgrounds in mechanical engineering, electrical engineering and business administration; the names of the founding partners are not officially disclosed.
Founding and ownership structure
According to an account by industrialist İlhami Pektaş, the company was founded when three partners started production in a 100-square-meter workshop with two motor types. The official website and LinkedIn profile give the start of operations as 1988, while the SAHA Istanbul member profile and the company’s industrial catalog give the founding year as 1989. Since the company is not publicly traded, its current share distribution does not appear in public sources. Concordat reports stated that Mogeser and MOPA Endüstriyel, which filed together with FEMSAN, “belong to the same shareholders”; this wording indicates that the three companies sit under a common family/shareholder group.
Management
| Name | Position | Verification source |
|---|---|---|
| Ertuğrul Ülker | Chairman of the Board | Defense Here interview; concordat reports |
| Latif Cengiz | Group CEO (November 2023-) | The Org, LinkedIn, ZoomInfo |
Ertuğrul Ülker described the company’s founding, its three sites in Pendik and its export strategy in an interview with Defense Here. In the interview he states that the company employs about 350 people (roughly 200 blue-collar and 150 white-collar), that local content in its defense products is around 65 percent, and that its first localization project was completed in the first half of the 2000s. Ülker’s name appeared among the filing parties in the concordat reports of July 2025.
Latif Cengiz, according to publicly available career profiles, is an engineering graduate of Yıldız Technical University; after serving as general manager at Kale Aero and as an operations executive at Tecde Group, he became Femsan Group CEO in November 2023. The company’s social media announcements use the phrase “our Femsan Group CEO Mr. Latif Cengiz.”
Group companies
FEMSAN’s industrial catalog defines two group activities: MOPA, which handles the representation and distribution of industrial products in the Turkish market, and a service unit focused on the maintenance and repair of electric motors, alternators and servo motors. Reports indicated that Mogeser, named alongside FEMSAN in the concordat process, is associated with this maintenance and repair activity. The group’s product activities are summarized in the FEMSAN products guide.
Corporate identity and certificates
The company holds AS9100 Rev D, ISO 9001, ISO 14001 and ISO 45001 certificates, Facility Security Clearances under the Turkish Ministry of National Defence and NATO frameworks, and an EYDEP certificate. A strategic cooperation document with ASELSAN is published on the official website. These documents show the corporate infrastructure supporting the company’s supplier position in defense projects.
Brief chronology
Milestones compiled from public sources are as follows: founding by three partners in 1988-1989 and production of brushed DC motors; the addition of permanent magnet and brushless servo motors to the product range over time; the first defense localization qualification in the first half of the 2000s; the start of continuous servo motor supply to ASELSAN weapon platforms in 2011; completion of the Servo Motor Development Project under SSB prime authority; Latif Cengiz’s appointment as group CEO in November 2023; and the concordat filing in July 2025. The company’s project history is given in table form in the defense projects file.
What does the concordat filing mean?
According to the business press, FEMSAN, Mogeser and MOPA Endüstriyel filed for concordat (a Turkish court-supervised debt restructuring procedure) on 28 July 2025; the court granted a three-month provisional respite, set a hearing date of 14 October 2025 and appointed a panel of commissioners. Unlike bankruptcy, concordat is a legal process that allows a company to restructure its debts while continuing to operate. The current stage of the process is not officially disclosed; the company’s product announcements and trade fair participation continue. For a general profile of the company, see the What is FEMSAN? file.
Frequently asked questions
Is FEMSAN a family company?
The company is not publicly traded; the phrase “the same shareholders” in concordat reports points to a common shareholder group, but the ownership structure is not officially disclosed.
Who is FEMSAN’s CEO?
According to public profiles, Latif Cengiz has been group CEO since November 2023; the chairman of the board is Ertuğrul Ülker.
How many people does the company employ?
About 350 according to the chairman’s interview; İlhami Pektaş’s article mentions about 300. No current official figure has been published.
Did the concordat halt the company’s production?
Concordat is a restructuring process that allows operations to continue; no official announcement about the company’s production status has been published.
Which clusters is FEMSAN a member of?
Memberships in SAHA Istanbul, the OSTİM Defence and Aviation Cluster and SASAD are confirmed in public sources.
Sources and verification note
Executive information was verified from at least two independent sources (the Defense Here interview and concordat reports; The Org/LinkedIn/ZoomInfo profiles). Accessed: August 13, 2026.
- https://defensehere.com/tr/femsan-elektrik-motorlari/
- https://theorg.com/org/femsan-electric-motors/org-chart/latif-cengiz
- https://www.linkedin.com/in/latif-cengiz-54a68519/
- https://www.dunya.com/ekonomi/aselsan-ve-roketsanla-calisan-savunma-sanayi-sirketi-femsandan-konkordato-basvurusu-haberi-787049
- https://www.paraanaliz.com/2025/gundem/aselsan-ve-roketsana-tedarik-yapan-firmada-konkordato-sureci-g-118858/
- https://www.ilhamipektas.com/femsan-savunma-sanayi-icin-elektrikli-motorlar-uretiyor/
- https://www.femsan.com/
