Tag Archives: Investment

US manufacturer buys Turkish hose manufacturer

Istanbul, 7 June 2012 - Eaton Hydraulics Group, the US diversified power management company, has announced plans for the acquisition of Polimer Kaucuk the Turkish manufacturer of hydraulic and industrial hoses used in the construction, mining, agriculture, oil/gas sectors. Announcing the acquisition William VanArsdale, President of Eaton said, “Turkey’s economic...

Posted on 26 June 2012

Unilever breaks ground on its new plant in Turkey

Istanbul, 6 June 2012 - Unilever started construction of its new 100 million USD factory in Konya in Turkey’s Central Anatolia Region. The factory will be used for the production of Unilever’s Turkish ice cream brand “Algida” for its domestic and MENA region dales. This is Algida’s second Turkish plant...

Posted on 22 June 2012

Turkish solar energy projects on the grid

Istanbul, 2 June 2012 - With foreign and domestic investors are already queuing up for the rights to produce solar energy, Turkey’s Energy Market Regulatory Authority has announced that between 10th to 14th June 2013 it will accept license applications to produce electricity from solar energy. “The potential investors in...

Posted on 22 June 2012

Indian company to invest 150 million USD in Turkey

Istanbul, 30 May 2012 – India’s Polyplex Corp, a leading manufacturer of polyester film, has announced a 150 million USD investment in Turkey. According to Kapil Gupta, Polyplex’s Senior Vice President, “The plant will have capacity to produce 600,000 tons of polyethylene terephthalate per annum”, “Some 70 to 80 percent...

Posted on 22 June 2012

Leading global technology giants line up for 8 billion USD contract in Turkey

Istanbul, 31 May 2012 - The Fatih project, Turkey’s nationwide education initiative to provide tablet PCs to every primary school students, has attracted attention of the global tech industry’s leading names for the 8 billion USD project. According toNihat Ergun,Turkey’s Minister of Science, Industry and Technology Minister, at least 30...

Posted on 22 June 2012

International credit agency praises Turkey’s new incentive scheme

Istanbul, 25 May 2012 - Fitch Ratings, the international credit rating agency, has praised Turkey’s newly announced investment incentive scheme aimed at reducing Turkey’s dependency on imports therefore reducing Turkey's international financial support. According to Fitch “It will focus mainly on sectors like energy, mining, the automotive industry and tourism,...

Posted on 22 June 2012

Turkish bus maker in deal with Indian company

Istanbul, 23 May 2012 - India's Hinduja Group commercial vehicle maker subsidiary Ashok Leyland has enter an agreement with the Turkish Utikar bus making company to manufacturer the upper chassis parts for a new intra and inter city bus for the MENA and European markets. Source: Invest inTurkey  

Posted on 22 June 2012

Japan’s giant Sumitomo to invest in Turkey

Istanbul, 22 May 2012 - Japanese conglomerate Sumitomo has announce a new Turkish joint venture under the name of "Sumisertmetal". The company has set aside an initial budget of 20 million USD to establish its sales network of industrial cutters and drills according to Sumisertmetal CEO, Edip Bayizitlioglu with plans...

Posted on 28 May 2012

Hyundai plans new investment in Turkey

Istanbul, 21 May 2012 - Hyundai Turkey has rolled its new i20 SuperMini from its Izmit factory in western Turkey. South Korea’s leading car maker has also announced an investment of 600 million USD to double its production from 100,000 to 200,000 vehicles per year in Turkey. The new investment...

Posted on 28 May 2012

Germany’s Bosch is to increase investments in Turkey

Istanbul, 17 May 2012 - Turkey’s economic performance has meant that Bosch Turkey has increased its workforce by some 1,200 workers and increased company’s sales by 17 percent to 2 billion Euros. Bosch Turkey now plans to invest another 300 million Euros in addition to the 500 million Euros the...

Posted on 28 May 2012