Turkey's Ford arm to raise capacity

Newswire

ISTANBUL, May 25 (Reuters) - Automotive giant Ford's Turkish arm Ford Otosan said late on Monday it would invest 37.8 million euros ($45.3 million) to raise capacity. The two-year investment would allow the plant, located in the Kocaeli province of northwestern Turkey, to increase production to 240,000 vehicles form 200,000, the company said in a statement to the Istanbul Stock Exchange. "This project which aims to raise existing production capacity to meet increasing domestic demand and ...

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