Invest News DetailTurkish Daily News - U.S.-based chemicals giant Huntsman, which ranks 249th on Fortune Magazine's Global 500 list, has opened a factory with an initial investment of $10 million at the Tuzla Industrial Zone in Istanbul. We have invested in the future of Turkish textile, said executives from the company, which is active in construction and textile chemicals in over 129 countries with 13,000 employees. Hunstman ranks third among world giants, just after Dow Chemical and DuPont with an annual turnover of $10.7 billion reported Hurriyet newspaper. “Our new production facility in Tuzla indicates our trust in the developing market in Turkey,” said Steen Weien Hansen, vice president at the firm's global supply chain, at the facility's opening ceremony. “We are also increasing environment, health and security standards.” Huntsman companies have provided products to the Turkish market for 45 years. The company also has a small-scale facility in Istanbul's Dudullu district. “We will offer textile-oriented services at world standards,” said Michael Effing, vice president of Huntsman Textile Effects' Europe, Middle East and Africa regions. Huntsman focuses on Europe in formulation and on Turkey, Egypt and Pakistan in production, he said.