New FDI to make Turkey a regional production hub.

Alubond USA, the world’s leading brand for exterior wall claddings, has established a regional production center in Turkey to meet the demands of the European, Russian and Turkic Republics’ markets. 

A joint venture between AlubondUSA and Turkish Aldom A.Ş. will build the production facilities with an initial $100 million of investment in the northwestern province of Çorlu. 

The group aims at reaching $500 million of yearly revenue by creating around 500 new jobs. The facilities will be built on some 100,000 square meters of area. 

Alubond USA has been branded in the U.S. and worldwide by American Building Technologies INC located in Rockford Illinois and in the U.A.E by Eurocon Building Industries (A Mulk Holdings group company).Under a 2004 sale agreement between ABTI and Mulk Holdings, The brand and manufacturing rights were sold for exclusive use by Mulk Holdings U.A.E. Mulk Holdings currently holds worldwide manufacturing and distribution rights of the Alubond USA brand worldwide. 

Turkey has been growing in a stable manner despite the global economic crisis. We have decided to establish such a big production plant in Turkey as we believe Turkey has a strategically crucial position, neighboring Europe, Russia and Iraq, among others,” said Mulk Holding Chairman Nawab ul Shaji, adding that Alubond Turkey would be the largest producer of noncombustible aluminum composite panel in the near future.

Source:Hurriyet Daily News