12/1/2008

Siemens invests in Turkey despite crisis

Today’s Zaman - Europe's largest engineering conglomerate, Siemens, is making a new investment in Turkey, signaling their faith in the Turkish market. Siemens Turkey CEO Huseyin Gelis said last week that the company was investing some 100 million euros in the Gebze district of Kocaeli. "We are establishing a new factory in Gebze because we attach importance to the Turkish market," Gelis noted. Gelis said the factory would be one of the most modern factories in Turkey and in all of Europe. "We will continue our growth in Turkey; we are not only growing in Gebze but also in other regions of Turkey," he said. Regarding the ongoing global financial turmoil, Gelis stated that the crisis would affect short-term investments negatively, but added that Siemens would continue its long-term investments in Turkey.