Turkish Tofas says to up production 65 pct in 08

Newswire

ISTANBUL, Feb 19 (Reuters) - Turkish car company Tofas plans to increase production by around 65 percent in 2008 to 350,000-360,000 units, CEO Ali Pandir said on Tuesday. He also told reporters domestic sales would rise 15 percent to 90,000 units. The firm -- a joint venture of Italy's Fiat and Turkish conglomerate Koc Holding -- would increase spending on research and development by 35 percent to 234 million lira ($196.6 million), Pandir said. (Reporting by Tolgahan Ozkan)

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