American auto parts producer invests $17 million in Turkey

Dünya Executive - - BUSINESS -

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.

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