3/24/2008

Siemens Turkey to invest EUR 1bn over next four years

ISI - General manager of German Siemens’ Turkey unit, Huseyin Gelis, says that the company will invest EUR 1 billion in Turkey operations including a EUR 200mn plant. 45% of the overall investment spending will be directed for Siemens’ energy operations, one of Siemens’ 3 core businesses next to industrial systems and medical diagnosis tools, according to Gelis. The new plant will be constructed in the Gebze district of Kocaeli in north-western Turkey where Siemens will initially manufacture electricity generation and distribution equipments. Siemens will later begin to produce automation equipments in the plant, Gelis elaborates. Siemens Turkey generated EUR 2.5bn in sales last year and aims to increase this figure to EUR 4bn in 2010.

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