Turkish-Italian textiles giant voices trust to Turkey, vows to boost investments
ISTANBULThe Ayaydın-Miroglio company, a joint venture between a leading Turkish textile group and an Italian group, announced plans to increase its investments in Turkey and voiced its confidence in the country’s economy at a meeting on Aug. 24.
High representatives from the group, founded in 2008 by the Ayaydın Group, the creator of such brands as İpekyol, Machka and Twist, in partnership with the global Italian company Miroglio, announced that they would move forward with investments in Turkey at “full steam.”
In a follow-up press release after the meeting, Ayaydın-Miroglio Group Chair Yalçın Ayaydın pointed out that Turkey has always succeeded in “turning crises into opportunities.”
“As a nation, we have sadly experienced many devastating events one after the other in recent months. But we are also a very strong country and with our people’s belief in unity and solidarity, we have managed to overcome the challenges and to turn all those crises into opportunities ... It is now time for us to strive more for our country and put in more effort,” Ayaydın said.
Ayaydın-Miroglio Group Vice Chairman Giuseppe Miroglio said the strong trust they have in Turkey’s strong economy prevailed as it did in the past.
“We at the Ayaydın-Miroglio Group are now even more committed to the investment opportunities in Turkey, and we plan to implement these opportunities at full steam in the coming period. Accordingly, we are in discussions with other brands in our sector,” Miroglio said, noting that the Miroglio Group also procures at large scale from Turkey for their other brands, in addition to their existing collaborations.
“We at the Miroglio Group operate in 34 countries across the world through 49 companies and three industrial sites. We are now shifting the majority of our procurement to Turkey for 11 different brands within our group. Turkey is becoming an even more strategic location for us, so we will double our procurement target for 2016 and raise it to 100 million euros,” he added.