Nursanlar Holding Makes EUR 25 Million Investment

Nursanlar Holding has signed a EUR 25 million investment agreement with MALHOTRA Cables Pvt. Ltd., a major Indian automotive cable manufacturer, at Kütahya Tavşanlı OSB. The investment will provide employment for 250 people and generate annual revenues of EUR 120 million. NURSAN Kablo Donanımları A.Ş., a company of Nursanlar Holding, one of the important production groups in Turkish automotive industry and established in 1956 with 100% Turkish capital, has signed a new investment agreement with MALHOTRA Cables Pvt. Ltd., a major Indian company. NURSAN KABLO, which currently produces automotive electrical equipment sets, battery cables and protective plastic parts for major industry projects such as Ford, Hyundai, Renault and Fiat, has signed a EUR 25 million investment agreement at Kütahya Tavşanlı OSB. This investment, planned to be realized in 2023, will localize cables currently supplied with 65% imported inputs, provide employment for 250 people, and achieve annual revenues of EUR 120 million. At the signing ceremony attended by MALHOTRA Holding Chairman Rajiv MALHOTRA and Nursanlar Holding Chairman Gaetano De ROCCHLI, NURSANLAR Holding CEO Kaan Yamakoğlu made the following remarks on the matter: "In our sector, which has high localization and employment potential, we attach importance to this cooperation for the spread of international capital in Anatolia. With this investment, we will ensure the localization of 65% of the cables we import. We will also provide employment opportunities for 250 people, the majority of whom will be women, to draw attention to gender inequality."