The U.S.-based Procter and Gamble (P&G) has made its 250 million-Turkish lira ($70 million) investment in the northwestern province of Kocaeli’s Gebze district online and signaled new investments, as reported by Reuters on Feb. 28.
The fresh investment in Gebze aims at increasing local production in baby and women outputs and thus enhancing diversification in export markets, according to top representatives from the company.
“We will increase local production with our new investment,” said the company’s Turkey and Caucasia chair, Tankut Turnaoğlu, as quoted by Reuters, adding that the company is working on a new investment in dish detergent area, which is slated to become online in the next 18 months.
Turnaoğlu noted that now some 60 percent of P&G products sold in Turkey are domestically made in the country, while the share was 55 percent ahead of the new investment in Gebze.
“We want to reach more than 10 export markets. We believe that our exports to Germany, Czech
Republic and Poland would start,” he added.
The company has already exported some 20 percent of its Turkey-made products to more than 10 countries in the Central Asia, Middle East and Balkans regions.
Turnaoğlu also said that Turkey gave the highest contribution to the company’s growth across Europe.
P&G’s global chief David Taylor said that some advanced production capabilities have been brought into Turkey, in a speech at the launch ceremony.
The company has two factories in Turkey and made around 2 billion liras of investments in Turkey since its entrance to the market some 30 years ago.