COOKLEY-based industrial wheels maker, Titan Europe, has joined forces with a major firm in Turkey.
Through its Italian subsidiary, Titan made an agreement with Jantsa, Turkey's largest off-road wheel producer.
The joint venture will operate in the agricultural market, producing wheels for the Turkish market and also providing Titan Italy with a lower-cost manufacturing base to enhance its product range.
It is anticipated that Titan Jantsa's capacity will be up to 300,000 wheels per year with production starting in the second half of 2006.
Titan Europe will invest approximately £3m in the deal.
Mike Akers, CEO of Titan Europe, said: "Jantsa is a well renowned wheel manufacturer with excellent long established relationships in the Turkish and surrounding markets.
"This will give us the ability to manufacture cost effectively."
while retaining our competitiveness in the European market and increasing the flexibility of our product mix."
Mr Ercan Cercioglu, General Manager of JANTSA, added: "I look forward to developing a common strategy towards expanding the off-road wheel market in East Europe, Middle Asia and Middle East."
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