German industrial giant ThyssenKrupp's Metal Forming division held the groundbreaking ceremony of its second production plant in Kocaeli in Turkey with the attendance of Turkey's minister of state Mr Zafer Caglayan, Mr Ilker Ayci, president of the Investment Support and Promotion Agency of Turkey and company executives.

Encouraged by Turkey's steady growth and increasing automotive exports, the company aims to produce chassis and body parts for commercial vehicles in its EUR 30 million plant in Kocaeli's Gebze district.

In his address during the groundbreaking ceremony, Mr Caglayan underlined Turkey's policy of facilitating and supporting international investments. Mr Caglayan also advised ThyssenKrupp to invest in a research and development center in Turkey, where an extensive scheme of R&D incentives is in place.

Speaking at the ceremony, ISPAT president Mr Ilker Ayci said that ThyssenKrupp’s investment in the country is a message and an invitation to other global companies seeking to expand their businesses. He added that "ThyssenKrupp’s selection of Turkey as their investment location will bring the opportunities in Turkey before the international arena once again."

ThyssenKrupp Metal Forming's CSO Mr Bernhard Osburg described the Turkish automotive sector as the driver of country’s economy. He said that "ThyssenKrupp's investments will expand alongside the Turkish automotive industry."

The plant will employ 250 people once it becomes fully operational in 2013.

(Sourced from IIT)