Bosch-Siemens planning to invest 300 million euro in Turkey

ISTANBUL (A.A) - 20.04.2011 - Bosch&Siemens Home Appliances Corporation has said it planned to invest 300 million euros by 2015 on its manufacturing facilities in Turkey.
"Turkey has become the most important country for the BHS after Germany and China. We will invest 300 million euros in Turkey by 2015," company CEO Norbert Klein told a press conference on Wednesday.  
BHS has been manufacturing home appliances in Turkey since 1992 at its Cerkezkoy facilities in Tekirdag province, which Klein said was the biggest after another BHS plant in Italy.
"BHS will launch a fifth plant and set up a research and development center as part of its future investment plans for Turkey," Klein said.
Klein said the company increased its revenues 6 percent in 2010 to reach 2.4 billion Turkish liras, adding that domestic sales constituted 1.4 billion TL of that sum.
Klein, however, said the company's profit was down 9 percent to 213 million TL due to strong Turkish lira and rising raw material prices.       
"We are developing and manufacturing our goods in Turkey and exporting them to Europe, the United States and the Middle East. We are exporting 60 percent of what we produce," Klein said.   
Klein said the number of workers the company employed had reached to 4,300 in the past five years, which marked a 61 percent increase.  
BHS claims 31 percent market share in Turkey with its flagship brands Bosch and Siemens, Gaggenau, and local brand Profilo.