One of Turkey's largest electronics manufacturers, Vestel and South Korea's Daewoo have agreed to expand their four-year production partnership.
Under the deal, Daewoo washing machines, boilers, refrigerators, dishwashers and televisions will now be produced at the Vestel City in western Turkey's Manisa, according to a statement by Vestel.
Vestel will develop and produce premium products to meet the market trends and diverse needs of Daewoo Electronics' overseas customers.
Vestel Group CEO Turan Erdoğan said that they will continue to cooperate with many of the world technology giants.
"Vestel exports its products to 155 countries. We improve ourselves by cooperating with world giants. Vestel and Turkey have made headlines around the world," Erdoğan said.
"I believe that with its expanded scope, this agreement will be beneficial for both companies. Daewoo Electronics wants to secure a more solid position in the European market by combining its global sales network and marketing capabilities with Vestel's advanced manufacturing capabilities," he said.
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