OTIS Has Been The Only Elevator Company In ISO Top Industrıal Enterprise List
Oct 1, 2020
The Istanbul Chamber of Industry (ISO) announced its list of ‘Turkey’s Top 500 Industrial Enterprises 2019.’ For the fifth time, Otis Turkey has taken its place in ISO Top 500, and has remained the only elevator company in the list.
Otis Turkey first entered the list and ranked number 489 in 2013 and ranked number 493 in 2019. The company, which ranked number 485 in the private-sector list, has been the only company in the list that manufactures whole elevator components, installs and provides service.
Top 3 of the list remained the same again. TÜPRAŞ is on the top of the list, while Ford Otomotiv ranked number 2 and Toyota Otomotiv ranked number 3. Star Rafineri, which took a place in the ISO 500 list for the first time, ranked number 5.
Living beyond the means
ISO Chairman Erdal Bahçıvan evaluated the results of the 2019
‘Turkey’s Top 500 Industrial Enterprises’ survey, which has been carried out uninterruptedly since 1968 and generates the most valuable data for the industry, and said, “The share of medium-high and high technology in added value increased to 30.4 percent for the first time, which is considered to have arisen from defense and aviation industries. Besides, the survey showed that the industrialists are in debt and have to live with it. In order to manage the debts, they need low interest rates. We are advantageous as the interest rates are low. We should not underestimate the struggles with high interest rates.”
Increased spending on R&D
At the press meeting held in Odakule Fazıl Zobu Council Chamber, Bahçıvan stated that the number of institutions in the ISO 500 that spend money for R&D reached 276 in 2018, the highest level since 2013 when this data was first measured, and explained that this number decreased by 14 to 262 in 2019. Bahçıvan also stated that there was a significant increase in R&D expenditures, and the R&D expenditures of the ISO 500 companies increased by more than 150% in 2019 and reached to 9.7 billion lira from 3.8 billion lira.
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