Invest News DetailHaber Turk - The German company, Siemens, in a bid to expand its operations in Kartal district of Istanbul, commissioned the first phase of its Gebze investment yesterday. Peter Löscher, President and Chief Executive Officer of Siemens AG, currently in Turkey for the inauguration of the new facility which will be worth EUR 100 million upon its completion in 2012, said, “While a good many companies all around the world delay their expansion plans, this investment will be our response to global turbulence.” Löscher went on to say: “Turkey will be an important center for a global organization. This facility is low-cost, eco-friendly and also economic. While many companies all around the world abandon their expansion plans, we have confidence in Turkey’s potential. We have a partnership lasting nearly 150 years; this kind of crises are times of trial but also offer the best opportunities”.