Star – 3M has opened a Customer Innovation Center in Istanbul, Turkey, as a part of its investment drive in the country. The US-based conglomerate is currently building a manufacturing plant in the Corlu district of Tekirdag Province which aims to utilize Turkey’s strategic location to assist its growth plans involving the European, Middle Eastern and North African regions. The production hub investment amounts to USD 500 million and has been realized with the assistance of the Investment Support and Promotion Agency of Turkey (ISPAT).
On opening the center located in Kavacik, Turkish Minister of Finance Mehmet Simsek said that such investments that helped Turkey climb the value chain were strongly supported. “3M’s expansion of its operations in our country shows Turkey’s rapid development in recent years,” he noted.
Speaking at the ceremony, Vice President of ISPAT Arda Ermut said that Turkey continued to be the focus point for multinational companies. “A large number of multinationals have already set up their regional centers in Turkey. This innovation center will be an important milestone in 3M’s history,” Ermut said.
“The 3M Customer Innovation Center in Istanbul is only a small part of our ongoing investments in Turkey. Once the Corlu production hub reaches operational status it will serve not only the domestic market but the entire globe,” reported Giuseppe Castaldi, 3M Vice President of Central and Eastern Europe, who added that Turkey was the company’s second biggest market in the Middle East and Eastern Europe.
“With its strong economy, dynamic domestic market, and enormous potential, Turkey is of great importance to 3M,” Castaldi remarked.
3M’s operations in Turkey date back to 1987, covering sectors such as the automotive, healthcare, chemical and consumer goods sectors. The company has been manufacturing in Turkey since 1992, exporting goods to nearly 40 countries.