Recordati Invests in Turkey's Bright Future

 

The Investment Support and Promotion Agency of Turkey (ISPAT) continues to support high value-added greenfield

investments in Turkey.In cooperation with ISPAT,Italy's Recordati SpA.,a leading name in the European pharmaceuticals

industry with a wide range of medicinal products,announced a manufacturing investment of USD 50 million in Turkey.


High added value, technology -  intensive and greenfield projects were on the rise in 2013.The plant to be built in the

Cerkezkoy Organized Industrial Zone located in Tekirdag province in northwestern Turkey will supply drugs for

various therapeutic uses, at a rate of 80 million packs a year,creating 130 new jobs in the process.


The groundbreaking ceremony for the plant will be held in May 2014 with the participation of the high-level govermental officials.

the plant will spread across an indoor area of 18,000 m2,comprising office spaces,manufacturing areas,storage and shipment areas,

a power plant,liquid and solid waste treatment and related technical facilities,while it will become operational in 2017.

The investment will signifficantly upgrade Recordati's manufacturing presence in Turkey to meet the growing demand, enabling the 

company to better supply markets in the Central Asia,the Caucasus and the surrounding regions.Welcoming Recordati's announcement,

Turkey's Minister of Health Dr. Mehmet Müezzinoğlu said "The Turkish goverment considers pharmaceutical industry as strategic and 

is fully committed to encouraging and supporting further development of the sector.Investments and know-how transfer in this critical

area have our fullbacking. As a country , which has implemented a comprehensive helathcare reform that ensures the availability of

easily accessible healthcare for its entire population,Turkey welcomes Recordati's investment as a significant contribution to the 

local pharmaceutial industry with the hope of seeing more industry leaders following Recordati's footsteps into our country. Sure of 

its positive impact on our country and people,I wish success to this high-teeh endeavor.



Noting the close cooperation between ISPAT and Recordati in the realization of the investment project,ISPAT President İlker Ayci said,

"The Agency is proud to have supported this project wich stands out with its production capacity ,potential and high added-value. It is a

step taken towards Turkey's 2023 vision ;ranking among the world's stop 10 economies and reaching an export volume of USD 500 billion.

ISPAT takes pride in assisting this invesment in our vitally-important pharmaceutical industry.



Andrea Recordati, the Chief Operating Officer and the Member of the Board of Directors of Recordati Group said," Following the 

acquisition of Yeni İlaç in 2011,the Recordati Group is verys satisfied with its presence in Turkey,a country where we have 

found a strong industrial vocation,competent and professional authorities and an extremely dedicated and qualified workforce.

We consider our Turkish subsidiary to be one of the key development drives for the group in the years to come and the industrial

investment in the new Cerkezkoy plant is a further demonstration of how much importance we attach to the Turkish market in the 

overall growth strategy of the Recordati Group"



Praising ISPAT's efforts to make Turkey a key location for pharmaceutical production,Recordati Turkey General

Manager,İsmail Yormaz said ,"Being fully aware of ISPAT's personel for this project.Recordati will do itspart in offsetting the 

import-export imbalance in Turkey's current account deficit through this manufacturing investment.Italy-based Recordati is a

growing pharmaceutical group active mainly in Europe,Turkey and the emerging markets of Central and Eastern Europe,offering specialty 

medicinal products for a wide range of therapeutic areas including rare diseases.Marketing products in 135 countries worldwide,

Recordati was first established in Turkey in 2008 with the acquisition of the Turkish pharmaceutical company,Yeni ilaç. In 2011,

Recordati expanded its presence in the country by taking over another local company, Dr. F. Frik.


Recordati Turkey employs a total of 657 people in its heads office in Esenyurt,Istanbul and a production facility that spans an area of 11,200 m'2.

On a strong growth track,the company has 49 products in the Turkish market in 86 forms and is able to supply 32 milion packs per year. 


Ispat Continues to Promote Investment Opportunities in Turkey on a Global Scale


WORLD INVESTMENT CONFERENCE, MAY 13 - 15,2014, ISTANBUL,TURKEY

 

ISPAT President,Mr.İlker Aycı was elected as the Pesident of the World Association of Investment Promotion Agencies (WAIPA) which covers 

175 national and regional investment promotion agencies from 230 countries at the WAIPA Steering Commitee Meeting held in Cape Town 

on January 24,2014.Turkey's assuming of a leadership role in an international organization is an important contribution to the country's prestige 

and influence before Turkey takes over the Presidency of the G-20 in 2015.



Having been annually organized by WAIPA for 19 years,the World Investment Conference,Istanbul(WIC-Istanbul) will be held on May 13-15.It will be a

unique occasion which brings together representatives from member investment promotion agencies (IPAs) and non-govermental organizations,business 

leaders selected intellectuals,and journalist to discuss the new trends and recent developments in foreign direct investments(FDI).Moreover,there

will be another meeting where WAIPA members will vote on the former steering committee's offer of moving permanently WAIPA Headquarters from

Geneva to Istanbul.With its strategie location and accessibilty,Istanbul distinguishes itself as a regional and global hub for many multinational

companies,such as Coca Cola and Microsoft,managing 94 and 80 contries respectively,as well as international institutions like the International

Finance Corporation (IFC) covering more than 50 countries.There are 223 direct flights available from Istanbul to the rare parts of the world and this

number has been increasing day by day.Among international airlines,Turkish Airlines has the highest number of direct flights in the world.Moreover, 

with its "Istanbul International Financial Center Project”,Istanbul is aiming to become a regional and global financial center. As such, it will

not be a surprise to see more international organizations choosing Istanbul for their headquarters and hopefully,WAIPA will be the beginning

in this long journey.



TURKEY'S INVESTMENT SUMMIT 2014,MAY 20-21-2014, ISTANBUL


In partnership with Ispat,the Sovereign Wealth Fund Institute (SWFI) is organizing a conferance on May 20-21 in Istanbul which gathers a divarse,

global audience of international investors,asset managers,industry leaders and policymakers to learn about the vast investment opportunities Turkey

offers.The conference will see participation by high-level governmental officials and offer a comprehensive agenda including investment opportunities

for mega infrastructure projects,as well as sectorial opportunities in the ??nance,energy and real estate sectors.



BIO INTERNATIONAL CONVENTION,JUNE 23-26,2014, SAN DIEGO, CA,US


In the last two years,ISPAT attended the Annual Bio Convention in the US so as to present investors the opportunities in the biotechnology sector,

which is considered to be a strategic investment field as the part of Turkey's national health strategy.Every year,ISPAT organizes the participation

of the Turkish delegation,which consist of the Ministry of Health,the Ministry of Science,Industry and Technology,the Ministry of Economy,the Social 

Security Institution,the Scientific and Technological Research Council of Turkey(TUBİTAK) and the Undersecrettariat of Treasury,as well as sector 

representatives.Over 15,000 companies and country representatives all over the world come together at this annually-organized Bio International 

Convention in order to share the latest developments in the field of biotechnology and take the first steps for significant partnerships.



ISPAT is once again taking its place in the BIO International Convention 2014 the premier event of the global biotechnology industry,to be held

on June 23-26 in San Diego CA,US.


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