BMC in talks to sell Turkish shares to local steelmaker 6 hours ago An early version of Turkey's Altay tank participates in a military parade in Ankara, Turkey, on Aug. 30, 2015. (Burhan Ozbilici/AP) ANKARA — BMC, a joint Turkish-Qatari venture that manufactures armored vehicles and tanks, is in the late stage of negotiations to sell a majority stake of Turkish shares to a Turkish steel producer, sources told Defense News. BMC is producing the Altay, Turkey’s first indigenous next-generation battle tank. Sancak-Öztürk will sell 51 percent of their shares to Tosyalı Holding, a leading iron and steel producer, which also has close ties to Erdoğan. Tosyalı operates three facilities on three continents and produces six million tons of steel annually. The company employs over 10,000 people. Its other business interests include maritime, port operation, foreign trade and power generation.