8/21/2009

“Preferring Turkey spared Ferroli from the financial crisis “

Zaman – In Europe, the heating systems sector has been affected by the economic crisis as much as the automotive sector. While many companies are incurring losses in this sector, the ones having invested in Turkey are recovering from the crisis with minimum losses. Italian combi boiler manufacturer Ferroli is one of them. The company made a choice between Romania and Turkey for its radiator investment in 2000 and decided to construct its factory in Duzce. The company has increased its turnover in Turkey from EUR 4 million to EUR 72 million in nine years, thus continuing its growth despite the global financial crisis. Ferroli will also start manufacturing boiler combi units in Turkey. Cetin Cakmakci, Board Member and Turkey Manager of Ferroli, said Dante Ferroli, founder of the company, is content with their success. Cakmakci also stated that the Duzce plant is continuing to export to the world markets at full pace and added, “We are posting very good results, as if there were no crisis.”