ISTANBUL, June 29, 2026 (GLOBE NEWSWIRE) — Gersan Elektrik Ticaret ve Sanayi A.Ş. (“Gersan Elektrik,” “Gersan” or the “Company”) (BIST: GEREL), a publicly traded Türkiye-based industrial company operating in the electrical sector and energy distribution solutions, announced that, following the Company’s disclosure through Türkiye’s Public Disclosure Platform, it has entered into a non-binding statement of intent with SmartBolts, a U.S.-based company organized under the laws of the State of Maryland.
The non-binding statement of intent provides a framework for the parties to continue discussions regarding a potential strategic collaboration relating to the manufacture, commercialization, distribution, financing and development of products and technologies within their respective markets. The contemplated discussions remain exploratory in nature and are subject to further legal, technical, financial, operational, regulatory and commercial review, due diligence, negotiation and approval.
SmartBolts develops and provides tension-indicating fastener solutions designed to display bolt tension through a visual indication system. SmartBolts’ technology is used to support the monitoring of critical bolted joints across industrial applications where installation reliability, inspection efficiency and maintenance visibility are important operational considerations.
The Company views the potential collaboration discussions with SmartBolts as part of its broader corporate development roadmap and its strategy to evaluate international business opportunities that may complement Gersan Elektrik’s core industrial activities, product capabilities and market access initiatives.
This development follows Gersan Elektrik’s recent announcement that it has initiated an application process for its shares to be cross-traded on the OTCQX Market in the United States. Taken together, the Company believes that these consecutive strategic initiatives reflect a coordinated approach to enhancing Gersan Elektrik’s visibility both in international capital markets and in selected real-sector business channels.
“Our recent OTCQX application and our discussions with SmartBolts represent complementary steps in Gersan Elektrik’s internationalization strategy,” said Erkan İzgi, Chairman of the Board of Gersan Elektrik. “As a company with a long-standing industrial base, we intend to pursue investment and growth initiatives that are aligned with our core business and supported by disciplined financial planning. We believe that international visibility must be built not only through capital markets communication, but also through business development initiatives that can strengthen the Company’s industrial platform over time. In this framework, we aim to continue evaluating opportunities that may contribute to Gersan Elektrik’s operational capabilities, global market access and long-term institutional positioning.”
Mr. İzgi continued: “Our objective is to advance with a prudent, transparent and sustainable growth approach. We will continue to assess potential international partnerships, technology-oriented collaborations and business development opportunities in a manner that remains consistent with our financial discipline, public disclosure obligations and shareholder communication standards.”
The non-binding statement of intent does not create a partnership, joint venture, agency, fiduciary relationship, exclusivity arrangement, non-compete obligation, intellectual property transfer, financing commitment or any obligation to manufacture, purchase, sell, distribute or market any products. Any future transaction between the parties would be subject to the execution of one or more definitive agreements approved by the parties and their respective legal, financial and corporate advisors.
Gersan Elektrik expects to continue communicating material developments through Türkiye’s Public Disclosure Platform and its official public reporting channels in accordance with applicable laws and regulations. The Company’s international investor communication activities are intended to provide context around publicly available information and are not intended to provide investment advice, price targets, trading recommendations or selective disclosure of material non-public information.
About Gersan Elektrik Ticaret ve Sanayi A.Ş.
Gersan Elektrik Ticaret ve Sanayi A.Ş. is a Türkiye-based publicly traded industrial company listed on Borsa Istanbul under the ticker GEREL. The Company operates in the electrical sector and provides products and solutions across energy distribution, busbar systems, cable tray and conveying systems, grounding systems, panel systems, electric vehicle charging systems, automation and lighting-related applications. For further information, please visit www.gersan.com.tr.
About SmartBolts
SmartBolts is a U.S.-based company focused on tension-indicating fastener technology. SmartBolts’ visual indication system is designed to provide real-time visibility into bolt tension through a color-changing indicator, supporting installation and inspection processes for critical bolted connections across a range of industrial applications. For further information, please visit www.smartbolts.com.
No Offer or Solicitation
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States, Türkiye or any other jurisdiction. No securities may be offered or sold in any jurisdiction except pursuant to registration or an applicable exemption under applicable securities laws.
Forward-Looking Statements
This press release may contain forward-looking statements, including statements regarding potential strategic collaboration discussions, international business development opportunities, the Company’s OTCQX application, expected market visibility, investor communication strategy, potential future agreements and other plans or expectations. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties, many of which are outside the Company’s control. Actual results, timing, approvals, agreements, market conditions and outcomes may differ materially. The Company undertakes no obligation to update any forward-looking statement except as required by applicable law.
