International snack firm to bring production to Turkey

By Gokhan Yildiz

ANKARA (AA) - Prominent snack company Mondelez International will bring its chewing gum production plant to Turkey this year, its country manager said Wednesday.

Ihsan Karagoz said the multinational company will relocate its plant from France, in a sign of growing confidence in the Turkish economy.

"Production in Turkey will be an important step for sales in Europe," he added.

Karagoz said the company is expected to increase exports by 22 million Turkish liras ($5.5 million) through this move.

He added that the relocation will produce 1,200 tons of chewing gum, a nine percent increase.

The company aims to invest 42 million liras ($10.5 million) in 2018, he said.

In the last six years, the company has invested 200 million liras ($82.5 million), he noted.

He also said export volume of Mondelez International Turkey stood at 220 million liras ($60.2 million) in 2017, up 56 percent compared to 2016.