ThyssenKrupp breaks ground for second factory in Kocaeli, Turkey

German industrial group ThyssenKrupp's Metal Forming division has recently held the groundbreaking ceremony for its second production plant in Turkey's Kocaeli province, with the attendance of Turkish minister of state Zafer Caglayan. In its second plant investment in Turkey following the first one which started production in Kocaeli at the end of 2007, ThyssenKrupp has invested a total of €30 million for the production of chassis and frame components which are of critical importance for the automotive industry, according to a release by the Republic of Turkey Investment Support and Promotion Agency
(ISPAT).
 
ThyssenKrupp Turkey general manager Ufuk Yarli said the plant will reach an annual production capacity of 50,000 mt once it becomes fully operational in January 2013. Mr. Yarli  added, "A total of 7,000 people are employed at [ThyssenKrupp's] existing 17 manufacturing plants. In 2010, the annual production capacity of the company stood at 550,000 mt, while its sale proceeds amounted to €1.1 billion. The decision of this giant company, which is active in a total of seven countries including Germany, the UK, France, Spain, Poland, China and Turkey, to invest in Turkey for the second time is highly promising for the future."
 
ThyssenKrupp Metal Forming's CSO, Bernhard Osburg, described the Turkish automotive sector as the driver of country's economy. "ThyssenKrupp's investments will expand alongside the Turkish automotive industry," said Osburg at the ceremony, adding that the company has long-term plans regarding Turkey.