Borusan Holding to increase its investments in 2018

Tuesday, 06 March 2018 17:22:08 (GMT+3)   |   Istanbul
       

Turkish group Borusan Holding has announced its future strategies for 2018, stating that it aims to achieve an overall turnover of TRY 20 billion ($5.27 billion) in the current year. In 2018, Borusan Holding plans to make investments worth TRY 1.2 billion ($316.64 million) and create 1,250 new jobs in group companies.

Agah Ugur, CEO of Borusan Holding, stated that the company will invest TRY 40 million ($10.55 million) in research and development facilities and digitalization in the current year, and it aims to increase these investments to TRY 900 million ($237.44 million) by 2020.

In addition, Borusan Holding stated that its subsidiary Borusan Mannesmann Boru will start its investments in its Gemlik and Halkali facilities in this year, with a total investment value of TRY 300 million ($79 million). The investments, which will be completed in 2019, will increase the production capacity of its Gemlik plant by 55 percent to meet the demand of its customers in the automotive industry and will also increase the production of industrial pipes used in the energy, mining and machinery sectors.


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