ISTANBUL – Hürriyet Daily News
Germany’s Mann+Hummel, a development partner and original equipment supplier to international automotive and mechanical engineering industries, aims to make its Istanbul office a management base, weekly business magazine Ekonomist reported.
Mann+Hummel entered the Turkish market two years ago with an Istanbul office. Before that, the company was conducting its operations in Turkey via a distribution channel. The main reason for the company to enter the Turkish market is to conduct regional management from the Turkey office.
The group’s product portfolio includes air filter systems, intake manifold systems, liquid filter systems, cabin filters and cylinder head covers made of plastic with many integrated functions for the automotive industry.
The company has also recently begun planning to launch production in Turkey.
During the first quarter of next year, Istanbul will become the regional base for operations in the Middle East and former Soviet countries, said Manfred Wolf, president of Mann+Hummel, Ekonomist reported.
“The Middle Eastern and former Soviet countries are some of the important markets that we could not able to focus on until now,” Wolf said. “There is a great demand for products in these countries. Product sales will be offered to these countries from Turkey.”
Mann+Hummel also targets to begin production in Turkey within the next few years, he said. “As Turkey will become a base for its region, it will also become a production center.”
Still, Wolf did not give any figure about the volume of the probable investment.
The annual turnover of the company is 2 billion euros, Ekonomist quoted Wolf as saying.
When the company entered the Turkish market, it had a very small market share: 1 percent in passenger cars and 4 percent in commercial vehicles, Wolf said, adding that these figures have reached 9 percent and 19 percent respectively.
Noting that original equipment suppliers are seriously affected by the recent economic crisis, Wolf said Mann+Hummel has experienced a 10 percent contraction in production.
The recovery in the sector that began this year will continue in 2011, he said, adding that it will be dependant on Asian growth.
The company has 45 offices around the world.
via German auto parts giant promotes Turkey to regional base – Hurriyet Daily News and Economic Review.