10/10/2012

3M to establish regional production hub in Turkey

Dünya - US-based innovative products maker 3M’s third regional production center in Europe will be located in the Corlu district of Turkey’s Tekirdag, according to a joint announcement by the company and the Investment Support and Promotion Agency of Turkey (ISPAT). The multinational conglomerate’s Turkish plant to be built at a cost of USD 500 million will employ at least 1,000 qualified workers, and is critical in the company’s growth plans involving European, the Middle Eastern and North African regions.

“Turkey is once again the location of choice for a multinational company’s production hub to serve markets in Europe, the Middle East, North Africa and Russia. Contribution to our country’s exports and employment creation make 3M’s investment vital to Turkey,” said ISPAT President Ilker Ayci at the launch event, also attended by Turkey’s Minister of Economy, Zafer Caglayan.

“US companies invested over USD 7 billion in Turkey in the last five years,” Ayci noted, stating that the total of US investments has already exceeded a billion dollars during the first seven months of 2012.

“The Super Hub to be established in Turkey is the third of its kind in Europe,” said 3M Vice President for Central and Eastern Europe Giuseppe Castaldi, describing the company’s investment as a large-scale plant capable of making a diverse selection of products. Defining Turkey’s stable economic growth as a key reason for 3M’s selection, Castaldi also underlined the importance of the new investment incentives scheme in their decision. “Aiming to reach a sales figure of USD 1 billion in the near future, the high-tech facility in Turkey will supply 3M goods to markets in Europe, the Middle East and North Africa,” said Castaldi.

3M’s operations in Turkey date back to 1987, covering sectors such as automotive, healthcare, chemicals and consumer goods. The company has been manufacturing in Turkey since 1992, exporting goods to nearly 40 countries.
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