11/29/2011

Nestlé foresees growth, new investments in Turkey

Haberturk - Food and wellness products giant Nestlé has signaled new investments and high growth in Turkey as the year nears its end. Nestlé’s investment plans regarding Turkey have not changed and the company will continue investing in Turkey, according to the Nestlé Turkey CEO, Hans Ulrich Mayer, who put the company’s annual growth estimate at 20 percent for the year.

``Turkey has been the recipient of several Nestlé investments many times greater than we invest in other markets,”` said Nestlé’s CEO, quoting the company’s total investment in the country for the last four years at “around USD 500 million”. Turkey is maintaining its strong economy, while the US and European economies are faltering. Competition in the Turkish market is increasing, leading to more investments. Nestlé products in the Turkish market are locally produced and exported to the Middle East and North Africa where they are in high demand, Mayer noted.

Nestlé Turkey has 12 sub-divisions, with products ranging from chocolates to pet food. The company announced a USD 55 million investment to produce breakfast cereals in Turkey last March.
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