Posted by meb at October 25th, 2011
Philips is seeking double-digit growth in Turkey, according to a top executive. The Dutch company is planning to relaunch manufacturing in the country.
Multinational Dutch company Philips is aiming for aggressive growth in the robust Turkish market, according to the top executive of the Turkish branch of the company, who noted that Phillips is considering joint ventures and acquisitions in Turkey to achieve its goals.
Philips might consider restarting manufacturing in Turkey due to â€œtremendous changeâ€ in global economic stability in recent years, said Willem Rozenberg, chief executive of Philips Turkey & Caucasus, speaking to the HÃ¼rriyet Daily News in an interview on Thursday. Founded in Istanbul in 1930, the company manufactured a wide range of products in Turkey until 2008. Talking about the future plans of the company, Rozenberg said, â€œThe company might return to Turkish with an industrial presence in some form.â€ (more…)