Nestle has announced plans to invest TRY85m (US$54.8m) in a new breakfast cereals factory in Turkey.
The manufacturer plans to open the 9,400 square metre factory in Karacabey, Bursa by the end of the year.
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The centre will be a regional hub for breakfast cereals and will export products to North African and Middle Eastern countries.
Nestle said it previously imported breakfast cereal products into Turkey, but with the new factory, the majority of Nestle products sold in Turkey will be produced in the country.
Hans-Ulrich Mayer, Nestle Turkey’s managing director, said yesterday (24 March) that the plan “reaffirms” its commitment to the country, which he added comes on top of the TRY325m invested in Turkey over the past four years.
The company said the factory will generate some 160 new jobs, and with all raw ingredients to be sourced locally, will create some 1,000 indirect jobs.
