Kocaeli, Turkey / Cologne, Germany, October 11, 2010 – Ford Otosan – the Turkish joint venture owned by Ford Motor Company and Koç Holding – is confirming today that it will invest 950 million Turkish Lira (approximately $630 million) in its Kocaeli production facility to support future manufacturing initiatives for the Ford Transit.
"Ford Otosan's Kocaeli Plant is the lead plant and main manufacturing centre for the Ford Transit, one of Ford's most iconic nameplates. This investment will ensure that the Kocaeli plant remains at the forefront of global manufacturing capability and also will help us to build further the Transit's long history of success," said Stephen Odell, chairman and CEO, Ford of Europe.
Speaking on behalf of Ford Otosan, Nuri Otay, general manager and operations head, said: "This significant new investment in future production at Kocaeli will help to secure the plant's existing capacity and employment level for many years ahead."
"This is great news for all our Ford Otosan employees, as well as the Turkish automotive industry. It is also testament to our high quality manufacturing standards and efficient production processes."
Every year since 2005, Ford Otosan has made $3 billion in export revenue, making it one of Turkey's leading export businesses. The Ford Transit is exported to over 60 countries from the plant in Kocaeli, and the plant employs 6,150 people. In addition, the Ford Transit is also manufactured at Ford's Southampton Plant in the UK, and in China and Vietnam.
Ford Otosan (Ford Otomotiv A.Ş.) is a publicly traded company, with Ford Motor Company and Koç Holding being the equal majority shareholders. Celebrating its 50th anniversary this year, Ford Otosan is one of the oldest and most successful joint ventures in the global automotive industry.