Hurriyet Daily News - Two European companies operating in lighting and electrical equipment industry are preparing for investments in Turkey, top officials from both companies have said.
Germany’s Osram, one of the two leading electric bulb producers in the world, is considering making Light-Emitting Diode (LED) technology investments in Turkey, Martin Goetzeler, Chief Executive of the company, told the daily Hurriyet over the weekend.
“Turkey has always been on our investment map,” said Goetzeler. “We consider Turkey when discussing the location of investments for the new technologies.”
Osram’s global revenue reached EUR 4.7 billion in 2010 and its sales in Turkey increased twofold in the last four years, according to the chief executive.
Recalling that Osram office in Turkey is also responsible for the Middle East region, Goetzeler said: “Turkey is a very attractive market with its dynamic and young population. It was the second fastest growing country last year and this year it targets a more than 6 percent growth. It is also a gateway to Central Asia and the Middle East, markets that are very important for us. This is why we want to get stronger here every year.”
The French company Legrand, meanwhile, is planning to invest in a research, development and production facility in Turkey, according to Giles Schnepp, the company’s chairman.
The 2010 revenue of Legrand, a company active in manufacturing electricity cables, connectors and switches, was EUR 4 billion.
“Turkey is very attractive in terms of market volume, qualified labor force and competition,” he told Hurriyet.
The global mid-range growth target of the company is 10 percent, said Schnepp. “We will grow much faster than this in Turkey.”