Turkish Aerospace Industries Plans $212m Factory Modernization

Discussion in 'Turkish Defence Forum' started by Pathfinder, Feb 29, 2016.

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  1. Pathfinder

    Pathfinder Lieutenant Colonel

    Dec 17, 2015
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    TAI Plans $212M Investment To Modernize Factory

    ANKARA, Turkey — Tusas Turkish Aerospace Industries (TAI) is planning a large investment to renew and modernize its plant near Ankara to catch up with its growth plans for the next decade, company sources said.

    The sources said that the company would make a fixed investment of 384 million Turkish liras (approximately $130 million). In addition, it will buy $82 million worth of machinery and equipment from foreign suppliers.

    TAI hopes its business will grow 10-fold to $6 billion annually in the next 10 years and plans to employ a workforce of 10,000 people. By 2040, it hopes to reach an annual business worth $10 billion with 12,500 employees.

    TAI employs 4,500 personnel. Of that number, 1,800 are engineers. In 2005, its turnover was a mere $90 million.

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