Gersan Elektrik Announces Strategic Collaboration Discussions with U.S.-Based SmartBolts

About this update from Gersan Elektrik Ticaret Ve Sanayi A.s.

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 inve...

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