Germany's CRH invests 15 mln euros in Turkey .hurriyet2008-detailbox-newslink { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:none; color:#000000;} .hurriyet2008-detailbox-newslink:hover { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:underline; color:#990000;} C Rob Hammerstein GmbH & Co KG (CRH), a German automotive supply company, is investing nearly 15 million euro in a production facility in Turkey, the company said in a statement issued on Monday.

The investment is forecasted to reach a total of 15 million euro and employ nearly 400 people, at a time when many companies are closing or laying-off workers, the statement said.

Many companies in Turkey have recently either closed or halted production, particularly in the automotive and textile sectors, due to economic problems resulting from a lack of demand stemming from the global financial crisis.

Lay-offs in these sectors gained pace in the last months of 2008 and are expected to continue into 2009 as the effects of the global crisis bite deeper into the local economy.

CRH, which employs 3,200 worldwide, manufactures adjuster systems, mainly for steering columns, seats, and head-restraints.

The company also said Turkey was selected for investment due to its logistic location and qualified workforce.