10/12/2010

Ford to invest USD 630 million in its Turkish plant

Star - Ford Motor Company has announced plans to invest USD 630 million in upgrades to its production facility in Kocaeli, in northwestern Turkey. Ford Otosan, a joint venture of Ford USA and Turkey’s Koc Holding, will produce the next generation of the company’s successful commercial vehicle, the ‘Transit’, and possibly other upcoming versions of the model in Kocaeli. The facility upgrade, amounting to USD 630 million, is one of Ford’s largest post-crisis ventures. The project is also the largest private sector investment in Turkey since the end of the global economic crisis, marking the latest in a series of investments in line with the evolution of the vehicle. The production of the new Transit model will require three work shifts in the plant, reaching the maximum capacity of 330,000 units per annum.
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turkey; kocaeli; automotive industry; automotive investment; ford; otosan; koc holding; ford transit