Bosch continues to invest in Turkey with confidence
by Anadolu Agency
IZMIRDec 05, 2016 - 12:00 am GMT+3
by Anadolu Agency
Dec 05, 2016 12:00 am
Steven Young, Bosch Middle East and Turkey president, said Bosch has invested $500 million in Turkey in the last two years, noting this figure indicates Bosch's trust in Turkey.
Saying they have eight manufacturing plants and four research and development (R&D) centers in five cities in Turkey in such fields as automotive, durable consumption, energy and industrial technology, he specified that they closed last year with a 3.4-billion euro turnover and made exports totaling 2.1 billion euros.
Speaking to Anadolu Agency, Young remarked that they had a good time in terms of domestic sales and exports in 2016, saying, "In the world of Bosch, Turkey belongs to Europe. Our office in Istanbul is the Middle East and Turkey headquarters. Bosch is the fifth largest settlement in the world. We are also the biggest settlement in Europe after Germany. Our region is of great importance for Bosch Global. Last year, we spent 300 million euros for Bosch Global and 200 million euros in 2016. We have invested 500 million euros in the last two years. This figure demonstrates Bosch's confidence in Turkey. This investment has been ongoing for the last five years. The past two years have been very intense. We are talking about a 1-billion-euro investment over the last five years. The investments will continue next year," he said.
With regards to expectations for the next year, "The economic impacts of the Brexit and the U.S. elections will be visible next year," Young said, indicating that the next year will introduce different global dynamics. In line with this, Young also remarked that the elections in Germany and France are also important factors, adding, "In Turkey, we will see a positive growth. In our region, I think, we will go to a positive policy thanks to the change of management in big countries."
As a group that has been operating in Turkey since 1910, Young underscored that Bosch has a different perspective on the country, explaining that they construe the recent disagreements between Turkey and the European Union as a test. Young, saying a period like this is a natural phenomenon, stressed that the most important thing is to be stronger in unity when pulling through such periods. Recalling that, as a company, Bosch has been in Turkey for more than a hundred years, he said they can understand both Europe and Turkey very well, maintaining their close ties with both sides in order to get through this period.
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