Thursday, August 11, 2011
ISTANBUL – Hürriyet Daily News
Philips is seeking double-digit growth in Turkey, according to a top executive. The Dutch company is planning to relaunch manufacturing in the country
 Turkey is an important example for other countries in the region and can serve as a hub for them, says Willem Rozenberg, chief executive of Philips Turkey. |
Multinational Dutch company Philips is aiming for aggressive growth in the robust Turkish market, according to the top executive of the Turkish branch of the company, who noted that Phillips is considering joint ventures and acquisitions in Turkey to achieve its goals.
Philips might consider restarting manufacturing in Turkey due to “tremendous change” in global economic stability in recent years, said Willem Rozenberg, chief executive of Philips Turkey & Caucasus, speaking to the Hürriyet Daily News in an interview on Thursday. Founded in Istanbul in 1930, the company manufactured a wide range of products in Turkey until 2008. Talking about the future plans of the company, Rozenberg said, “The company might return to Turkish with an industrial presence in some form.”
“Turkish President Abdullah Gül emphasized previously about the new balance between East and West, as the West is losing some of it power to the East,” said Rozenberg, noting that Turkey has the vision to understand the change and locate itself in the heart of the evolution. “No one could have known that United States’ credit rating was going to be downgraded a few months ago,” he added.
Talking about the Turkish economy, Rozenberg said the country has turned into “an economically independent country” from a country that was in need of constant support from others such as the International Monetary Fund, or IMF, a few years ago. “Turkey now says that it can solve its own problems,” he said, adding that many investors trust in Turkey more than before. According to him, Turkey has a serious challenge still waiting to be tackled; the income distribution gap and lack of infrastructure in some regions. “Turkey is highly developed on one side and needs a lot of development on the other side,” added Rozenberg.
Rozenberg said the company has currently total market size of $2 billion in home appliances, $1 billion in lighting and $250 million in health care, noting that Philips Turkey aims to reach double-digit growth on a yearly basis. “We aim to exceed Turkey’s gross domestic product growth by two times in each year,” he said, noting that the company targets to reach 15 percent growth in the market.
“We cannot just be successful by bombarding the market with new products, but need locals inside,” Rozenberg said. “We are interested in capitalizing on local opportunities through local partners, joint ventures and acquisitions.”
“Turkey is an important example for other countries in the region,” said Rozenberg, noting that many international investors sees the country as “a hub for penetrating into new markets” such as the Middle East or North Africa. Referring to Turkish construction companies actively running giant projects in Russia, Iraq and Central Asian countries, he said Philips also plans to penetrate into new markets especially in the lighting sector through Turkish construction companies.
The company also plans to grow in home health care equipment. “We are having talks with Turkish officials to bring health service into patients’ homes,” said Rozenberg, adding that the finance of home health care services could be provided through health insurance policies. Monitoring patients at home and giving some services at home through high-tech user-friendly equipment could be much more affordable and efficient for Turkey, said Rozenberg. “Our company aims to take an active role in such a project that Turkish Health Ministry would launch in the future.”
Philips might consider restarting manufacturing in Turkey due to “tremendous change” in global economic stability in recent years, said Willem Rozenberg, chief executive of Philips Turkey & Caucasus, speaking to the Hürriyet Daily News in an interview on Thursday. Founded in Istanbul in 1930, the company manufactured a wide range of products in Turkey until 2008. Talking about the future plans of the company, Rozenberg said, “The company might return to Turkish with an industrial presence in some form.”
“Turkish President Abdullah Gül emphasized previously about the new balance between East and West, as the West is losing some of it power to the East,” said Rozenberg, noting that Turkey has the vision to understand the change and locate itself in the heart of the evolution. “No one could have known that United States’ credit rating was going to be downgraded a few months ago,” he added.
Talking about the Turkish economy, Rozenberg said the country has turned into “an economically independent country” from a country that was in need of constant support from others such as the International Monetary Fund, or IMF, a few years ago. “Turkey now says that it can solve its own problems,” he said, adding that many investors trust in Turkey more than before. According to him, Turkey has a serious challenge still waiting to be tackled; the income distribution gap and lack of infrastructure in some regions. “Turkey is highly developed on one side and needs a lot of development on the other side,” added Rozenberg.
Rozenberg said the company has currently total market size of $2 billion in home appliances, $1 billion in lighting and $250 million in health care, noting that Philips Turkey aims to reach double-digit growth on a yearly basis. “We aim to exceed Turkey’s gross domestic product growth by two times in each year,” he said, noting that the company targets to reach 15 percent growth in the market.
“We cannot just be successful by bombarding the market with new products, but need locals inside,” Rozenberg said. “We are interested in capitalizing on local opportunities through local partners, joint ventures and acquisitions.”
“Turkey is an important example for other countries in the region,” said Rozenberg, noting that many international investors sees the country as “a hub for penetrating into new markets” such as the Middle East or North Africa. Referring to Turkish construction companies actively running giant projects in Russia, Iraq and Central Asian countries, he said Philips also plans to penetrate into new markets especially in the lighting sector through Turkish construction companies.
The company also plans to grow in home health care equipment. “We are having talks with Turkish officials to bring health service into patients’ homes,” said Rozenberg, adding that the finance of home health care services could be provided through health insurance policies. Monitoring patients at home and giving some services at home through high-tech user-friendly equipment could be much more affordable and efficient for Turkey, said Rozenberg. “Our company aims to take an active role in such a project that Turkish Health Ministry would launch in the future.”
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