KT&G Corporation (KRX: 033780) recently celebrated the expansion of its Türkiye factory in Tire, Izmir, marking a significant milestone in its journey to become a “Global Top-tier” company.
Key highlights:
🔹 $60M Investment: Added two high-tech manufacturing facilities, increasing the factory size by 1.5x to 25,000 sq. meters.
🔹 Increased Capacity: Four cigarette-making machines now produce 12 billion sticks annually.
🔹 Job Creation: Expansion created 60 new jobs, employing over 200 people in total.
🔹 Strategic Role: The Türkiye factory will act as a hub for exports to Northern Africa and Latin America, catering to growing demand.
This move aligns with KT&G’s 2023 Future Vision Declaration, which focuses on three core businesses: Next-Generation Products (NGP), overseas cigarettes, and health functional foods. The company aims to generate 50% of its revenue globally by 2027.
💬 Kyung-man Bang, KT&G’s CEO, remarked, “The Türkiye factory expansion strengthens our global presence and sets the stage for KT&G’s leap to becoming a ‘Global Top-tier’ organization.”
Local officials, including Tire District Governor Vural Karagül, highlighted the factory’s contributions to the local economy and its sustainability-focused operations.
KT&G’s global footprint includes operations in Türkiye, Uzbekistan, Indonesia, Taiwan, and beyond, with renowned brands like ESSE and BOHEM leading the way.
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