|SOUTH-EAST EUROPEAN INDUSTRIAL МARKET » South-East European INDUSTRIAL Мarket - issue 4/2015, NOVEMBER
A new rubber tire factory opened in Turkey
The USD 520 million Sumitomo Rubber tire factory in Turkey has been officially inaugurated by Turkey's President Recep Tayyip Erdogan. The plant in the central Anatolian province of Cankiri has been realized in partnership with Abdulkadir Ozcan A.S (AKO) and will be able to manufacture 10 million tires per year.
President Erdogan noted at the opening ceremony that Japanese investments into Turkey have been on the increase recently, reaching USD 1,6 billion in the last five years. During the first nine months of the year, Japanese companies have been part of seven merger and acquisition operations in the country, which is an important indicator of the country's investor interest in Turkey.
"We have high expectations from our Japanese friends. Turkey should have a share of at least 1 percent from Japan's outgoing investments, corresponding to USD 1 billion a year," the President said.
The Sumitomo Rubber AKO plant will employ 2,000 people and is expected to export about 80% of its product range, consisting of radial passenger and light truck tires, to the Middle East, North Africa, and Russia.
Етикети: Sumitomo rubber tire factory Abdulkadir Ozcan A.S AKO