Turkish Tofas aims to export 1.18 mln new vans

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JannissaryofByzantium Commanding Moderator Posts: 4860 (10/5/07 9:53 am)	Turkish Tofas aims to export 1.18 mln new vans Turkish Tofas aims to export 1.18 mln new vans "We are continuing intensively with our investments. Our investments will increase to around 870 million euros ($1.23 billion) - BURSA, Turkey, Oct 3 - A joint van project between Turkey's Tofas , France's Peugeot and Italy's Fiat will export 1.18 million vehicles from Turkey over eight years, Industry Minster Zafer Caglayan said on Wednesday. The Turkish minister also told a ceremony to launch a production line for the Minicargo van that the project would bring in $11 billion in foreign currency. The new project will boost Tofas' output capacity to 360,000 vehicles in 2008 and 400,000 in 2009 from 158,000 this year, Tofas Chief Executive Officer Ali Pandir said at the ceremony. "The Tofas factory's production capacity will reach 360,000 in 2008 and thus it will become Fiat's third largest production centre. Our goal is to make Tofas the biggest production factory in the Fiat group," Pandir said. "We are continuing intensively with our investments. Our investments will increase to around 870 million euros ($1.23 billion) between 2007-2009," he said. Investment this year was seen at 430 million euros, he said. Tofas shares were up 0.8 percent at 6.1 lira in afternoon trade in Istanbul. Fiat was up 0.9 percent and Peugeot was 1.4 percent higher. Fiat Chief Executive Sergio Marchionne said the company's market share of commercial vehicles is currently 11.8 percent and the company will produce 500,000 commercial vehicles in 2008. FAST-GROWING MARKET Turkey is one of the fastest growing central and eastern European car markets. Amid recent stabilisation of its economy and political climate it has become more attractive as a low-cost assembly base. The companies' Minicargo light commercial vehicle will be sold by Peugeot under the name Bipper, by Citroen under the name Nema and by Fiat under the name Fiorino. Tofas was taking on an additional 2,500 staff for the plant in northwestern Turkey. Pandir said the company aimed to produce more than one million of the Minicargo van during its lifespan, exporting 95 percent of the vehicles from Turkey. Tofas announced plans for the new line in 2005 when it earmarked more than 300 million euros in investments for the facility.Tofas is a joint venture between Fiat and Turkish conglomerate Koc Holding . Link
Yahac Senior Moderator Posts: 1847 (10/5/07 4:22 pm)	Re: Turkish Tofas aims to export 1.18 mln new vans I just think meanwhile they should start creating their own brand, too... Instead putting the labels of other companies on the same car, why not some courage and put "TOFAS"'s label?
Bonaparte der Kaiser Moderator Posts: 91 (10/5/07 6:54 pm)	Re: Turkish Tofas aims to export 1.18 mln new vans ^^I agree. They are being subsidized for more than 50 years, yet they still have not managed to create one decent brand. Yillarca g�mr�k duvarlarinin ardina saklana saklana y�r�yen camasir makineleri, Anadollari, uyduruk kaydirik besinci sinif mallari kakaladilar. E tabe ar-ge, inovasyon, marka yaratma, kaliteyi artirma; bunlar bos seyler. Gerci kicikirik, hap kadar G.Kore, sinirli kaynaklariyla sanayisini gelistirdi, yari iletkenlerde, gemi insaanda, otomobil, kimyasal, elektronik gibi sektorlerde d�nya devi oldu. Ama olsun! Yeter ki gon�ller hos olsun, biz yine severiz Kocu, Sabanciyi! Kendilerini semirtip, b�y�ten Cumhuriyet T�rkiyesi elden gitmis, ne gam; yeter ki cepler dolsun! Bir tanesi hala anneannemin evinin bodrumunda. Actively getting on people's nerves since February 2006 Cainii latra, caravana trece... Cainii latra, URSUL trece... Edited by: Bonaparte der Kaiser at: 10/5/07 6:57 pm

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