Germany-based steel giant thyssenkrupp launched an escalator production facility in Turkey's industrial hub Dilovası Organized Industrial Zone specialized in machinery production and located in the northern Marmara province of Kocaeli. With an investment cost of 20 million euros, the facility will annually produce 1,200 units of escalators with "Made in Turkey" stamps in the first phase, creating an economic volume of TL 500 million ($117 million). The plant also includes a specially designed training campus for the employees. The thyssenkrupp facility in Kocaeli, the company's first production plant in Turkey, also positions the country as an escalator export hub. The escalators manufactured at the plant will be sold to Middle Eastern and European markets as well as in Turkey.

Speaking at the opening ceremony, Investment Support and Promotion Agency of Turkey (ISPAT) President Arda Ermut underscored that the investment of thyssenkrupp proves the importance of Turkey as an investment market for international companies. Since the escalators manufactured at the facility will be exported to Middle Eastern, Turkic and European countries, it will contribute to Turkey's exports, he added.

Ermut highlighted the agency's commitment to prioritizing strategic sectors that reduced dependency on imports and boost exports. He remarked that the thyssenkrupp facility in Kocaeli aims to reach 50 percent in utilization of local resources across its manufacturing operations in the first year, but the rate will be increased to over 90 percent in the years to come. Therefore, he said, the German giant's investment is an important step supporting Turkey's mobilization to expand the share of local resources, citing the country's initiatives to rely on domestic capabilities and resources over the recent period in the manufacturing and energy industries.Thyssenkrupp Elevator board member and CFO Ercan Keleş referred to the extensive initiatives Turkey has recently taken to boost the utilization of local resources in a wide variety of industries. "Thyssenkrupp hopes that its new investment will contribute to Turkey's campaign," he added. Keleş stressed that thyssenkrupp Elevator does not simply manufacture products compliant with standards but also put a lot of effort into research and development (R&D) operations prior to production. Thanks to the R&D activities, the company has so far manufactured innovative products, including rope-free elevators and twin system packs where each cab features independent safeguards that operate electrically and mechanically. "This technologies and know-how will now be transferred to Turkey at the Dilovası plant," Keleş said.Thyssenkrupp Elevator Turkey General Manager Turgay Şarlı emphasized that the new facility investment of the company proves its confidence in Turkey. The plant includes a giant ecosystem with its Turkish suppliers and contractors, therefore he said, it will support the growth of Turkish companies.