Çukurova Holding
A Turkish industrial and commercial conglomerate with interests spanning construction, communications, media, transportation, financial services, energy, manufacturing and information technology.
Last updated August 24, 2026
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Overview
Çukurova Holding is a Turkish industrial and commercial conglomerate established in 1923. Rather than operating as a single consumer-facing product brand, it has historically functioned as a diversified group with investments and operating companies across a broad range of industries. Its activities have included industrial manufacturing, construction and construction machinery, communications, information technology, media, transportation, financial services, energy, chemicals, paper and packaging, steel pipe production, textiles and automotive manufacturing. The group’s portfolio has included both operating businesses and major strategic holdings. In automotive manufacturing, Çukurova owned BMC for 24 years. BMC was established in 1964 in cooperation with the British Motor Corporation and became fully owned by Çukurova in 1989. The company was subsequently transferred to Turkey’s Savings Deposit Insurance Fund, known as TMSF, in 2013 as part of the settlement of tax liabilities. Çukurova also participated in automotive components through Maysan Mando, a manufacturer established in 1969 that became a joint venture with South Korea’s Mando Corporation in 1997. Communications and media were another major area of activity. The group’s media interests included television, newspapers, magazines, radio and related technical and advertising services. Its digital television platform Digiturk was incorporated in May 1999 and developed a business around purchasing, producing and packaging Turkish television content. Digiturk also offered digital services including mobile and web television and controlled rights to many productions made for its channels, including Turkmax. Çukurova provided broadcast infrastructure through Eksen and operated media-sales activities through companies such as Mepas and Zedpas. The group’s media position contracted substantially after a series of asset disposals and closures. On 18 May 2013, Çukurova Media Group transferred a substantial portion of its media properties to TMSF in partial settlement of a tax debt. The transfer followed the closure of various media properties and left the group with a much smaller media portfolio. The 2013 transfer was part of a broader period in which several Çukurova-related assets came under state administration or changed ownership. Çukurova’s financial-services history included Pamukbank, which was taken over by TMSF in 2002, and Yapı ve Kredi Bankası, which was sold in 2005. The group has also been involved in prolonged litigation since 2005 concerning part-ownership of Turkcell, one of Turkey’s principal telecommunications companies. These financial and ownership disputes have been an important part of the group’s later corporate history. In addition to its better-known automotive, telecommunications and media interests, Çukurova has operated or invested in construction machinery, agricultural machinery, chemicals, paper and packaging, steel pipes and textiles. Named businesses associated with these activities include Çukurova İnşaat Makinaları, Çukurova İthalat, Çukurova Ziraat, Çukurova Makina İmalat, Çukurova Kimya, Daussan Çukurova Kimya, Atkasan, Kaplamin, Ova Sca Packaging, SCA Packaging, Selkasan, Noksel and Çukurova Sanayi İşletmeleri. Because the group’s portfolio has changed through sales, state transfers, restructurings and ownership disputes, the current scope and status of all historical subsidiaries cannot be established from the supplied sources alone.
History
Çukurova Holding was established in Turkey in 1923 and developed as a diversified industrial and commercial group. Its business model involved assembling a portfolio of companies and investments in sectors connected to manufacturing, infrastructure, communications, transportation, media and finance. Over time, the group’s activities expanded beyond heavy industry into consumer communications and content distribution, while also reaching specialized fields such as chemicals, paper, packaging, steel pipes and textiles. Automotive manufacturing became one of the group’s most visible industrial activities. BMC was founded in 1964 through cooperation with the British Motor Corporation. Çukurova acquired full ownership in 1989 and retained the company for 24 years. BMC produced vehicles and became a significant part of Turkey’s automotive manufacturing base. Çukurova also held an interest in Maysan Mando, a vehicle-parts manufacturer founded in 1969 that entered a joint venture with South Korea’s Mando Corporation in 1997. The group established a significant media and communications presence during the expansion of Turkish private broadcasting. Digiturk was incorporated in May 1999 as a digital television platform. It purchased, produced and packaged Turkish content and provided services including mobile and web television. The group also supported broadcasting through Eksen, which supplied technical infrastructure to Show TV and other Çukurova media enterprises. Mepas operated as a media-sales house, while Zedpas was another marketing company associated with the group’s television activities. Çukurova’s media holdings were managed through Çukurova Media Group and included newspapers, magazines and radio stations under TurkMedya. The group’s media position weakened as several properties were closed or otherwise exited. On 18 May 2013, a substantial number of remaining media assets were transferred to TMSF in partial settlement of a tax debt. BMC was also transferred to TMSF in 2013 in settlement of tax debts, materially reducing the group’s direct presence in two prominent sectors. The financial-services portfolio experienced major changes earlier in the group’s history. Pamukbank was taken over by TMSF in 2002, while Yapı ve Kredi Bankası was sold in 2005. Çukurova also became involved in a long-running legal dispute over part-ownership of Turkcell beginning in 2005. The dispute illustrates the complexity of the group’s ownership structure and the importance of telecommunications assets to its corporate history. Other historical activities included construction and construction machinery through Çukurova İnşaat Makinaları, Çukurova İthalat, Çukurova Ziraat and Çukurova Makina İmalat. The group also had companies in chemicals, paper and packaging, steel pipe manufacturing and textiles. The supplied reference material does not provide enough information to determine the present ownership or operating status of every named subsidiary. Consequently, Çukurova Holding is best characterized as a historically diversified Turkish conglomerate whose portfolio has been reshaped by disposals, state interventions, tax settlements and ownership litigation.
- 2013
Media assets transferred to TMSF
[1]On 18 May, a substantial portion of Çukurova Media Group's properties was transferred to TMSF in partial settlement of a tax debt.
- 2013
BMC transferred to TMSF
[1]BMC was transferred to TMSF in settlement of tax debts owed to the Turkish government.
- 2005
Yapı ve Kredi Bankası sold
[1]Çukurova sold Yapı ve Kredi Bankası and became involved in litigation concerning part-ownership of Turkcell.
- 2002
Pamukbank taken over by TMSF
[1]The Turkish Savings Deposit Insurance Fund took over Pamukbank, an important change in Çukurova's financial-services portfolio.
- 1999
Digiturk incorporated
[1]Digiturk was incorporated as a digital television platform focused on Turkish content and related digital viewing services.
- 1997
Maysan Mando joint venture formed
[1]Maysan Mando became a joint venture with South Korea's Mando Corporation.
- 1989
Çukurova fully acquires BMC
[1]Çukurova became the full owner of BMC.
- 1964
BMC established
[1]BMC was established in partnership with the British Motor Corporation, creating the basis for a major Turkish vehicle-manufacturing business later acquired by Çukurova.
- 1923
Çukurova Holding established
[1]The conglomerate was established in Turkey and later developed a diversified industrial and commercial portfolio.
Products and positioning
A diversified Turkish conglomerate built around industrial, infrastructure, communications, media and financial-services investments rather than a single branded consumer product.
Digital television platform · 1999
Digiturk
Digiturk was incorporated in May 1999 as a Turkish digital television platform. Its activities included acquiring, producing and packaging Turkish content, including television movies and series. It also offered mobile and web television services and held rights to many productions made for associated channels such as Turkmax. The supplied material identifies Digiturk as a wholly owned subsidiary of the Cukurova Group at the relevant historical point.
Automotive manufacturing · 1964
BMC
BMC is a Turkish vehicle manufacturer established in 1964 through a partnership with the British Motor Corporation. Çukurova acquired it fully in 1989 and owned it for 24 years. The company represented one of the group's principal industrial and transportation assets before being transferred to TMSF in 2013 as part of a tax-debt settlement.
Automotive components · 1969
Maysan Mando
Maysan Mando is a vehicle-parts manufacturer established in 1969. It became a joint venture with South Korea's Mando Corporation in 1997 and formed part of Çukurova's automotive-components activities.
Broadcast infrastructure
Eksen
Eksen provided technical broadcast infrastructure for Show TV and other Çukurova media enterprises. It supported the group's broadcasting operations rather than functioning primarily as a consumer-facing media brand.
Media sales
Mepas
Mepas operated as a media-sales house in Turkey within the wider Çukurova media portfolio.
Construction and agricultural machinery
Çukurova construction machinery businesses
The group operated several construction, import, agricultural-machinery and machinery-manufacturing businesses, including Çukurova İnşaat Makinaları, Çukurova İthalat, Çukurova Ziraat and Çukurova Makina İmalat.
Brand decisions
2013
Transfer of media assets to TMSFOtherBackground
Çukurova Media Group faced a tax debt and had already seen some media properties closed or removed from its portfolio.
Action taken
On 18 May 2013, the group transferred a substantial number of media properties to Turkey's TMSF as partial settlement of the tax debt.
Aftermath
The transfer left Çukurova with comparatively few media assets and significantly reduced its position in Turkish media.
2013
Transfer of BMC to TMSFOtherBackground
BMC had been fully owned by Çukurova since 1989 and was one of the group's principal automotive assets.
Action taken
BMC was transferred to TMSF in settlement of tax debts owed to the Turkish government.
Aftermath
Çukurova lost ownership of a major vehicle-manufacturing business.
Sources2 sources
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