Hurriyet/Milliyet – Hygiene products manufacturer Ontex has opened its US 30 million factory in Türkiye’s Istanbul. Located in the Silivri district, the plant will manufacture Canbebe branded hygiene products, the business which the Belgian company acquired from Turkish Astel Kagitcilik in 2000.
“Our investment in Istanbul is an indicator of our strong confidence in Türkiye. Ontex believes in Türkiye’s potential and future as such Türkiye is now in the list of the few countries that we have manufacturing operations in.”, Ontex CEO Charles Bouaziz said at the opening ceremony of the factory that will create 500 jobs.
Türkiye’s Minister of Economy, Zafer Caglayan, attending the opening, said that Türkiye had led the European economies in GDP growth for the second quarter. “Türkiye has attracted over USD 127 billion of foreign investment over the last 10.5 years, some 75 percent of that amount originated in Europe.” Caglayan said, adding that Türkiye’s stability, potential and the investment incentives were critical in attracting foreign companies. Caglayan also called on to the Belgian company to set up a regional management center as well as a research and development facility in Türkiye.
Türkiye’s economy has grown by 4.4 in the second quarter of 2013, the highest growth among European economies. The growth rate for the first half of the year was 3.7 percent.