Mega stent production facility ready to open
ISTANBUL - Anadolu Agency
The facility will be inaugurated by the end of 2018 with the project-based incentive package unveiled by the government.
Alvimedica is among the 19 companies supported by the incentives for 23 projects in health, defense, metallurgy, electronics, automotive and agriculture sectors.
Established in 2007, the company produces integrated circuit products for endovascular and interventional cardiology.
Some 95 percent of the facility, with an investment of 1.7 billion liras ($310 million), has been completed, Alaton said.
She underlined that the company will manufacture triple the amount of Turkey’s need for coronary stents.
A stent is a little metallic cage used for opening blockages in coronary arteries in order to prevent patients from heart attack.
She underlined that the company will also export to more than 80 countries, aside from its country supply.
Pointing out the importance of exporting high value added products for the current account gap, Alaton said their stent production will contribute in reducing the current account deficit by more than $200 million.
“We will continue our investments through the support provided by the incentive,” she said.
Meanwhile, the Alvimedica president said quality approval processes are set to be completed by the first quarter of 2019.
The company will generate jobs for 1,000 people once the new facility starts full-production, she also said.