Invest News DetailHurriyet - German industrial giant ThyssenKrupp’s Metal Forming division held the groundbreaking ceremony of its second production plant yesterday in Kocaeli, Türkiye with the attendance of Türkiye’s Minister of State Zafer Caglayan, President of the Investment Support and Promotion Agency of Türkiye (ISPAT), Ilker Ayci and company executives. Encouraged by Türkiye’s steady growth and increasing automotive exports, the company aims to produce chassis and body parts for commercial vehicles in its EUR 30 million plant in Kocaeli’s Gebze district. In his address during the groundbreaking ceremony, Minister Caglayan underlined Türkiye’s policy of facilitating and supporting international investments. Caglayan also advised ThyssenKrupp to invest in a research and development (R&D) center in Türkiye, where an extensive scheme of R&D incentives is in place. Speaking at the ceremony, ISPAT President Ilker Ayci said that ThyssenKrupp’s investment in the country is a message and an invitation to other global companies seeking to expand their businesses. “ThyssenKrupp’s selection of Türkiye as their investment location will bring the opportunities in Türkiye before the international arena once again” he added. ThyssenKrupp Metal Forming’s CSO, Bernhard Osburg, described the Turkish automotive sector as the driver of country’s economy. “ThyssenKrupp’s investments will expand alongside the Turkish automotive industry,” said Osburg at the ceremony, noting that the company has long term plans regarding Türkiye. The plant will employ 250 people once it becomes fully operational in 2013.