1/14/2009

German firm invests in Turkey

Hürriyet Daily News - C.Rob.Hammerstein, or CRH, a German automotive supplier group, has pushed the button to make a greenfield investment in Turkey. One of the leading manufacturers of complete seat structures, manual and electronic seat adjusters, integrated child booster seats and airbag panels, CRH is moving its production largely to the Marmara region in line with its growth strategies, according to the firm's joint statement with the Prime Ministry Investment Support and Promotion Agency of Turkey. "Turkey is quite convenient to provide the production conditions CRH needs" said the firm's chairman Robert Houston. "The proximity to the large producers and acceptable production costs compared to other countries have played a key role in our choice." Within the scope of the project, CRH, which offers services to world markets with approximately 3,200 workers, has launched a new production plant investment of 15,000 square-meters in Gebze, an industrial town in Kocaeli. The investment is expected to reach EUR 15 million and create jobs for 400 people. CRH is said to have preferred Turkey for its qualified workforce and advantageous location. With the new plant, CRH will shorten transportation channels of automobile producers in Turkey. Furthermore, CRH will provide products for the Ford factories in Kocaeli's Golcuk district, where the parts for Ford Transit are assembled. Despite the global crisis, investments will continue, said Alpaslan Korkmaz, President of Prime Ministry Investment Support and Promotion Agency of Turkey. "Turkey offers ideal conditions for investors" he said.
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