Breaking News

K-C Invests In Turkey

December 20, 2005

Kimberly-Clark will invest $120 million in production in Turkey over the next five years and create about 1,000 jobs. The maker of Huggies diapers said in July it would cut its workforce by about 10% and  close or sell 20 plants as it works to improve its diaper and health-care businesses and expand in emerging markets. Ari Melamud, the company's eastern Mediterranean director, told a news conference Turkey was one of the six countries the company has prioritized for investment.
    "We plan to make Turkey a distribution hub for markets around it," he said.
    Turkey has attracted record high foreign investment this year as business confidence has been rising over improving economic conditions on the back of an International Monetary Fund programme and the start of European Union accession talks.
    K-C has been in Turkey since 1999 when it bought local firm Ovisan.

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