American auto parts producer invests $17 million in Turkey
U.S.-based Wabco launched its first distribution center with an investment of nearly $17 million in Istanbul on October 11. The center will enhance the distribution capabilities for Wabco, and support the needs of local aftermarket customers, original equipment manufacturers, and trailer builders in Turkey.
Speaking at the center’s opening ceremony, Arda Ermut, head of the investment office of the presidency of Turkey, said that regardless of political relations, investors look at how the environment is favorable or unfavorable for investments. Wabco’s investments are important in terms of demonstrating the continued confidence of U.S. companies in Turkey and for raising the compet- itiveness in the automotive sector by increasing added value, he added. Noting that investors’ confidence in Turkey continues, Ermut said: “I consider this investment as a very important and encouraging step.”
Jacques Esculier, CEO of Wabco, noted that Turkey is a “very important” country for the company, adding that the distribution and logistics center will initially increase business volume with Turkish customers and with suppliers in the near future. “Besides Turkey, it will also become a regional center for investments in the future,” he added.
Contr but on to commerc al veh cle ndustry
Nicolas Bardot, WABCO Chief Supply Chain Officer, said: “Powerfully demonstrating our commitment to Turkey and building on our major $50 million annual spending in the country, we strongly believe that our investment in this cutting-edge new distribution center will help further contribute to the growth of the commercial vehicle industry in the region.”
Wabco, founded nearly 150 years ago, is the global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles. Established in Turkey in 1982, Wabco, opened an International Sourcing and Purchasing Office in Istanbul in 2011 with products ranging from metals to rubber and casting to forging, as well as assembly parts, according to its website. In 2017, Wabco reported sales of $3.3 billion and has nearly 15,000 employees in 40 countries.