Turkish cardboard packaging maker eyes €25 million plant

Turkish cardboard packaging maker Oguz Ambalaj has announced plans to build a new production facility in Kocaeli, in Turkey’s eastern part.

The investment is to be worth about €25 million ($27.5 million), reports local news site Haberortak.com. The announcement comes shortly following the release of the company’s improved financial results for this year.

In 2015, Oguz Ambalaj reported revenues of about TL 75 million ($24.7 million), according to data released by the Turkish firm. Under the plan, in 2016, Oguz Ambalaj is to reach revenues of about TL 90 million ($29.7 million).