3/4/2009

Coca-Cola to establish R&D center in Turkey

Sabah - The new research and development law has drawn the attention of global giants to Turkey. Zyxel, Mercedes, HP and Unilever are just a few companies amongst those that have shifted their focus towards Turkey. Coca-Cola is the newest company to join the procession. Coca-Cola, with operations in 93 different countries, has turned towards Turkey in order to establish a research and development (R&D) center. According to a Coca-Cola official, the company, which has been attempting to increase their efforts in Turkey, is now finalizing the details in order to bring the R&D center project into fruition. Michael O'Neill, CEO of Coca-Cola Soft Drinks, stated, "The issue of tax incentives is definitely a significant factor in the decision to make Turkey a R&D center." Coca-Cola Soft Drinks already has bottling facilities in the Turkish city of Elazig. However, according to the information obtained, a more central region is considered for the R&D center. The first choice is Istanbul and its surrounding area. With its legendary secret formula, Coca-Cola now has a USD 400 million budget designated for R&D. After Coca-Cola's sixth center, which has most recently been established in Shanghai in order to promote Far East production, Turkey will become the company's seventh base. Coca-Cola's partner in Turkey, Anadolu Endustri Holding's Administrative Chair Tuncay Ozilhan stated, "Turkey is an important country for Coca-Cola. Turkey ranks in 14th place in terms of country performance figures and is qualified as being a 'shining star."
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