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German giant Volkswagen establishes firm in Turkey

German giant Volkswagen establishes firm in Turkey
Automobile company has nearly $164.5M capital, according to Turkish Trade Registry Gazette

By Gokhan Ergocun

ISTANBUL (AA) - The German automotive giant Volkswagen established a production firm in Manisa, an Aegean province of Turkey, according to the Turkish Trade Registry Gazette on Wednesday.

The firm -- Volkswagen Turkey Otomotiv Sanayi ve Ticaret A.S. -- was established with a capital of 943.5 million Turkish liras ($164.46 million).

The company in western Turkey was founded to design, produce, assemble, sell, import and export automobiles, trucks and all sorts of motor and transport vehicles and their parts and components, according to the gazette.

Jens Kellerbach and Jurger Unser are board members of the company.

source: News Feed
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