Kibar Hold­ing to set up auto parts fa­cil­ity in Europe

Daily Sabah (Turkey) - - Business - IS­TAN­BUL / DAILY SABAH WITH REUTERS

TURK­ISH con­glom­er­ate Kibar Hold­ing plans to in­vest 40 mil­lion eu­ros ($47 mil­lion) in au­to­mo­tive seat tech­nol­ogy and also set up an auto parts pro­duc­tion fa­cil­ity in Europe, Chief Ex­ec­u­tive Of­fi­cer (CEO) Haluk Kayabaşı said Tues­day.

Speak­ing at a con­fer­ence, Kayabaşı said the com­pany will make ca­pac­ity-boost­ing in­vest­ments in raw ma­te­ri­als and key in­ter­me­di­ate prod­ucts next year fol­low­ing the dis­rup­tion of sup­ply chains be­cause of the coro­n­avirus.

“We are plan­ning to in­vest 40 mil­lion eu­ros in air sus­pen­sion seats and also set up a man­u­fac­tur­ing fa­cil­ity in Europe in the medium term,” Kayabaşı said.

As­san Hanil, the main auto parts sup­plier unit of Kibar Hold­ing and its South Korean part­ner Seoyon E-Hwa, is known for its seat­ing sys­tems, bumper, door and in­stru­ment mod­ules, ac­cord­ing to its web­site.

Ini­tially just pro­vid­ing parts for Hyundai, the com­pany is now pro­duc­ing parts at its three fa­cil­i­ties in Turkey and sup­plies to Mercedes-Benz Türk, Ford Otosan and Karsan Oto­mo­tiv.

Kibar Hold­ing op­er­ates in seven sec­tors in­clud­ing au­to­mo­tive, food and me­tal. It has in­ter­na­tional busi­ness part­ners in­clud­ing South Korean Hyundai, Posco and Dae­woo.

South Korean au­to­mo­tive gi­ant Hyundai and Kibar Hold­ing’s As­san op­er­ate a joint au­to­mo­tive fac­tory in Turkey’s north­west­ern city of İzmit.

The fac­tory has been pro­duc­ing A and B seg­ments of i10 and i20 mod­els, and it has re­cently launched mass pro­duc­tion of Hyundai’s re­vamped third-gen­er­a­tion i20.

The fa­cil­ity has an ex­port vol­ume of $1.7 bil­lion (TL 13.32 bil­lion), which places Hyundai As­san among Turkey’s top five ex­porters.

Hyundai As­san, which cel­e­brated its 20th an­niver­sary in Turkey in 2017, is jointly man­aged by the Hyundai and Kibar, which hold 70% and 30% of shares, re­spec­tively.

A worker at the joint fac­tory of Kibar Hold­ing and Hyundai in north­west­ern Turkey’s Ko­caeli prov­ince, Aug. 28, 2020.

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