Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Wednesday, October 23, 2019

Germany's Mubea opens production plant in Turkey

Muhr und Bender KG, also known as Mubea, announced on Thursday that it opened a $27.6 million manufacturing plant in the Manisa Organized Industrial Zone in Turkey's Aegean region.

The new facility is the German automotive supplier's first greenfield investment in Turkey, following its commission in September. The plant will focus on the production of suspension coil springs and stabilizer bars, components that were previously imported to Turkey.

The plant has an annual capacity of 3.5 million spring coils, while plans for doubling the annual output are already underway.

Mubea's current customer portfolio in Turkey's domestic market includes Renault, Ford and Toyota. The company is seeking $5.53 million in exports.

Jörg Neubrand, a board member with Mubea, said the company is number one in the sector and that it is looking forward to boosting its global presence with its Turkish clients.

The Investment Support and Promotion Agency of Turkey (ISPAT) supported Mubea during its investment stages.