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Turkey's textile businesses hope for quick start, recovery
12 Jun '20
2 min read
Pic: Yasemin Yurtman Candemir / Shutterstock.com
Textile factories in Turkey recently reopened in the industrial cities of Kocaeli and Sakarya after a brief, mandatory break due to the novel coronavirus outbreak and are operating at over 80 per cent capacity while preparing for new investments because of a rise in orders. The country lifted restrictions related to the pandemic on June 1.
Textile manufacturers underwent a quick revival and now foresee an even quicker recovery after the shock they experienced, sector representatives told a Turkish newspaper.
Talu Tekstil, located in the first Organised Industrial Zone (OIZ) in Sakarya, is currently working again at full production after its factories produced nothing but medical masks during April. Demand has significantly increased with the reopening of stores in Europe, said company chief executive officer Mustafa Gültepe, who is also the chairman of the Istanbul Textile and Apparel Exporters Association (ITKIB).
The company opened its third factory in Adapazari last year to keep up with increasing orders and is now planning to move its factory to a new giant factory in central Turkey at the end of the month. Its production capacity is planned to increase by 30 per cent after moving to the new factory. The company aims to reach the pre-pandemic production level of a million pieces per day in August.
Turkey's three largest state lenders—Ziraat Bank, VakifBank and Halkbank—recently announced that they will extend a new loan incentive scheme with reduced rates to invigorate the transition to normalisation and revive social life, as economic activity steps up following a slowdown due to the pandemic.
Textile manufacturers underwent a quick revival and now foresee an even quicker recovery after the shock they experienced, sector representatives told a Turkish newspaper.
Talu Tekstil, located in the first Organised Industrial Zone (OIZ) in Sakarya, is currently working again at full production after its factories produced nothing but medical masks during April. Demand has significantly increased with the reopening of stores in Europe, said company chief executive officer Mustafa Gültepe, who is also the chairman of the Istanbul Textile and Apparel Exporters Association (ITKIB).
The company opened its third factory in Adapazari last year to keep up with increasing orders and is now planning to move its factory to a new giant factory in central Turkey at the end of the month. Its production capacity is planned to increase by 30 per cent after moving to the new factory. The company aims to reach the pre-pandemic production level of a million pieces per day in August.
Turkey's three largest state lenders—Ziraat Bank, VakifBank and Halkbank—recently announced that they will extend a new loan incentive scheme with reduced rates to invigorate the transition to normalisation and revive social life, as economic activity steps up following a slowdown due to the pandemic.
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