Belgium-based U.S. company WABCO Holdings, one of the leading global suppliers of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles, yesterday officially opened its first distribution center in Turkey.
Sources said that the center has been established with an investment of TL 100 million ($16.67 million).
"Underlining WABCO's continued commitment to Turkey and its significant investment in the region, the 2,000-square-meter, state-of-the-art facility based in Istanbul enhances the distribution capab
ilities for WABCO's extensive portfolio of technologies and services to support the needs of local aftermarket customers, original equipment manufacturers and trailer builders in the country," the company said in a statement.
Speaking at the opening ceremony, Investment Office President Arda Ermut said that WABCO's investment proves the company's trust in the Turkish economy. "We have already started to discuss with WABCO its new investments in Turkey. It will be very important to boost our competitiveness and added value in the automotive sector," Ermut said.
The company added that it has maintained a 36-year relationship with Intermobil, its exclusive representative, fourth-party logistics provider and supply chain management partner in Turkey, and will further build its local customer relationships through improved product availability, quicker response times and local customer service excellence.
"Present in Turkey since 1982, WABCO has forged deep relationships across the Turkish commercial vehicle industry, which includes some of the world's leading original equipment manufacturers," it added.
WABCO's investment in Turkey has grown significantly in recent years, the statement read. "In 2011, WABCO opened an International Sourcing and Purchasing Office in Istanbul which currently purchases over $50 million of commodities annually, ranging from metals to rubber and casting to forging, as well as assembly parts sourced from over 20 Turkish suppliers."
The new distribution center was inaugurated yesterday at a grand opening event, hosted by WABCO Chairman and CEO Jacques Esculier. Customers, industry representatives, central government officials, suppliers, partners and WABCO employees were present on the occasion.
"Demonstrating our commitment to Turkey and building on our major $50 million annual expenditures here, we strongly believe that our investment in this cutting-edge distribution center will help further contribute to the growth of the commercial vehicle industry in the region," said WABCO Chief Supply Chain Officer Nicolas Bardot, at the opening ceremony. "In addition to enabling WABCO to significantly increase access to our extensive portfolio of advanced products and services to our aftermarket customers and trailer builders in Turkey, these investments will help foster even closer relationships with local suppliers to deliver further value creation and differentiation for our customers," added WABCO president EMEA Nick Rens.