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Fortenova sells agri unit to Podravka for 333 mln euro
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Turkey's Ege Endustri plans to set up new production line for 10 mln euro

Dec 18, 2014, 2:48:58 PMArticle by Yurkie Ali
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ISTANBUL (Turkey), December 18 (SeeNews) – Turkish axles and axle housings producer Ege Endustri ve Ticaret [BIST:EGEEN] said its board has decided to invest 10.1 million euro ($12.5 million) in establishing a second production line at its factory in the Aegean Free Zone, an industrial park in the western Turkish city of Izmir.

Turkey's Ege Endustri plans to set up new production line for 10 mln euro

The investment is aimed at modernising and expanding the production capacity at the factory, Ege Endustri said in a bourse filing on Wednesday.

Ege Endustri operates another factory in the Pinarbasi neighbourhood of Izmir’s Bornova district, according to information on the company’s website. Ege Endustri is controlled by local conglomerate Bayraktar Group which is active in the real estate, automotive and retail sectors.

($ = 0.811 euro)

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