May 8, 2019 / 5:26 AM / 4 months ago

BRIEF-Tofas Expects To Invest Around $225 Million By The End Of 2020 Regarding Facelift Investment Of Egea / Tipo Car Family

May 8 (Reuters) - TOFAS:

* DECIDES TO START THE FACELIFT INVESTMENT OF THE EGEA / TIPO CAR FAMILY PRODUCED AT THE TOFAS BURSA PLANT

* WITH THE MATERIAL DISCLOSURES DATED 25.10.2013 AND 6.11.2014, DURATION OF PUBLICLY DISCLOSED PROJECT HAS BEEN EXTENDED UNTIL THE END OF 2024

* IT IS FORESEEN TO INVEST APPROXIMATELY $225 MILLION BY THE END OF 2020

* IT IS PLANNED TO START PRODUCTION OF NEW VEHICLES IN THE LAST QUARTER OF 2020

* WITH CONTRIBUTION OF NEW INVESTMENT, TOTAL OF 1 MILLION 450 THOUSAND PIECES OF PRODUCTION, 70% OF WHICH IS FOR EXPORT MARKETS, IS TARGETED DURING PROJECT PERIOD OF 2015-2024

* 1 MILLION 300 THOUSAND PIECES OF PRODUCTION TARGETED FOR 2015-2023 PERIOD HAVE BEEN REALIZED AS APPROXIMATELY 530 THOUSAND UNITS UP TO NOW

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Further company coverage: (Gdynia Newsroom)

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