CLN, an Italian industrial firm is planning to build a new manufacturing facility in Turkey to manufacture car wheels and rims.
The company will partner with the local firm Jantsa as well as invest EUR36m in the new facility.
A 50/50 joint venture (JV), known as JMV, will manufacture nearly two million car wheels and one million truck wheels per year.
Bloomberg reported that the firm also aims to generate annual sales of EUR50m and about half of the earnings are expected to be generated from exports from the facility in Aydin province, in South Western Turkey.
Source:
http://www.automotive-business-review.com/news/cln-group-to-build-new-car-wheel-manufacturing-plant-in-turkey-140812
