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CLN Group Sets Up $44 Million Wheel Plant With Jantsa in Turkey

CLN Group, an Italian industrial company, will open a plant in western Turkey in October with local partner Jantsa to make car wheels and rims, with an investment of 36 million euros ($44 million).

The equally owned venture, called JMV, will produce 2 million car wheels and 1 million truck wheels a year and aims for annual sales of 50 million euros with half of that to be exported from the plant in Aydin province, according to an e- mailed statement from the companies today.

To contact the reporters on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editors responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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