Swiss chocolate manufacturer increases Turkish investment & production

Posted on 28 September 2011

28 September 2011, Turkey – Nestle, the Swiss based chocolate manufacturer intends to increase its business in the low cost sweet and chocolate market in Turkey according to Devrim Cobek, Nestle’s Business Executive Manager of Nestlé Turkey’s Confectionery Business Unit. Nestle purchased a 51% share in Turkey’s Balaban Gida company and has since invested over 2 million USD to increase capacity in its 2 wafer and biscuit and wafer factories. Commenting on its acquisition, Cobek reported “The company has grown at an average rate of 15 percent for the last 5 years” and with these announced capacity increases expects a growth increase of 30 percent by 2012. Cobek went on to say “The new acquisitions show our focus on Turkey which we consider an important production base for Nestlé”.  Early this year Nestle also purchased a cereal factory for 55 million USD, “Partnerships and acquisitions that suit our growth strategies will be considered” commented Cobek. Source: Invest in Turkey

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