Leading Turkish and Italian wheel making companies to set up JV

Istanbul, 15 August 2012 – Jantsa, the Turkish wheel rims maker is to set up a JV with the Italian CLN Group one of Jantsa’s main competitors. The new JV will be housed in a 20,000m2 factory in Aydin in western Turkey. The new investment will cost 36 million Euros and is expected to manufacture 3 million wheel rims yearly focused mainly on cars and heavy trucks. The new plant will employ 400 workers. Commenting on the new venture CLN Group Chairman, Gabrielle Magnetto, said “It is excellent to form a partnership with our biggest competitor on the global arena. Jantsa is also a family-run company like us, and has a strong position in the market. We are very content with our joint venture and presence in Turkey”. Source: Invest in Turkey