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Industry in Turkey

  • Production capacity of Turkey’s Petkim jumps

    TURKEY, 2014/11/19 Turkey’s Petkim petrochemical complex has increased its production capacity from 3.2 million to 3.6 million metric tons per year, Azerbaijan’s national energy company SOCAR reported. SOCAR has a 61.32-% share in Petkim complex. The company said that Petkim’s production capacity has increased as a result of investing $144 million in the plants for production of ethylene and purified terephthalic acid.

  • Turkey; Koc, Fiat announce USD 1 bln investment

    ITALY, 2014/11/10 Tofas, the automaker owned by Turkey and Italy's Fiat, said it will invest USD 1 billion to produce three new models of cars, mainly for export, as daily Hurriyet online reports. The Bursa, Turkey-based carmaker targets the production of 1.3 million hatchbacks, station wagons and sedans between 2016 and 2023, it said in a written statement to the Public Disclosure Platform (KAP). The Turkey-based company had by presently announced last year that it would spend USD 520 million to build 580,000 units of a new sedan model.

  • Volvo ends contract to build trucks in Turkey

    FRANCE, 2013/08/24 Turkish automaker Karsan said on Tuesday that its arrangement to build Renault Trucks in Turkey will not be renewed next the current six-year transaction expires in November, as World Bulletin reports. Volvo, which owns Renault Trucks, announced on Tuesday it had terminated a arrangement for local assembly in Turkey and that the new range of Renault trucks will be manufactured in France. Volvo said that termination would have a negative impact on the group\'s operating gain in the third quarter of 2013.

  • turkey's industrial output in June

    TURKEY, 2013/08/22 turkey's industrial output in June expanded a seasonally and schedule-adjusted 1.4% compared with May, the Turkish Statistical Institute (TUIK) . The seasonally adjusted, raw, industrial output rose 4.2%, TUIK as well said. The June data beat the average non-adjusted increase estimate, which was around 2%. With the momentum of June acceleration, the second quarter production increase reached 3.2% compared to the same period last year.

  • Airbus set to produce plane parts in Turkey

    FRANCE, 2013/08/12  French aircraft manufacturer Airbus is planning to invest in a plant in Turkey where a subsidiary of it will manufacture various electronic and mechanical aircraft components, daily Hurriyet reports quoting some sources. The company has acquired a plot of land in the European Free Zone (EFZ) in the Thracian province of Tekirdag, the reports quoted the owner of the land as saying. \'\'Airbus has acquired an area of 10,000 square meters in EFZ,\'\' said Kemal Sahin, the chairman of Sahinler Holding, the owner and operator of Turkey\'s major private industry park.

  • Greek-Turkish consortium for a casino on Chios

    GREECE, 2013/06/24  Foreign business groups have expressed interest in the operation of new casinos in Greece, Kathimerini online reports. According to sources, such proposals have come from a Greek-Turkish consortium for a casino on Chios, British and Israeli entrepreneurs for Crete, a groups with British and other funds for Atalanti in central Greece, and an American fund for Myconos. Meanwhile the total financial figures of the country's nine casinos are continuing to chief south. For the period from January to May, their turnover showed a yearly decline of 13.4%, reaching 121.8 million euros.

  • Italian enterprises are going strong in Turkey

    ITALY, 2013/02/09  Italian enterprises are going strong in Turkey, a country seeing high increase rates for the completed ten years. Currently the 16th top economy in the world, it has so far managed to escape the European recession, Italian ambassador to Turkey Gianpaolo Scarante said today in an conference in Istanbul.

  • Hyundai to produce new model in Turkey

    TURKEY, 2013/01/03  South Korean car maker Hyundai is set to produce 50,000 units of its new i10 and sedan models in addition to plans of building a research and development facility and launching motor production in Turkey, dailyA Hurriyet reports quoting Umit Karaarsalan, chairman of the Hyundai Assan, as saying.

  • Ernst & Young report puts Turkish automotive industry under the spotlight

    TURKEY, 2010/09/12 Auditing and consultancy firm Ernst & Young (E&Y) has issued a statement on the Middle Eastern and Eastern European nations, underlining Turkey’s likelihood of attracting foreign investments. The statement mentions Turkey’s automotive industry, providing prospective production and employment figures for the coming years, dubbing the sector the ‘shining star’ of the country.
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