Swiss firm SICPA announces TL 5B investment in R&D in Turkey

Swiss manufacturer, SICPA, announced Monday that it will invest TL 5 billion ($738 million) to establish a research and development (R&D) center in Turkey after the coronavirus pandemic crisis.

The Laussane-based company provides security features and systems as well as secured identification and authentication solutions and services, mostly to governmental organizations.

Chairman and CEO of SICPA, Philippe Amon, said advance technological researches related to artificial intelligence (AI), blockchain and cybersecurity will be conducted at the center, which is expected to create employment for 3,000 people.

SICPA Turkey CEO Aykut Ferah said that the firm has been providing services of ticket production and sales for 69 museums in Turkey after winning a tender for the services in March 2018.

Established in 1927, the company, a leading global provider security inks, has grown significantly in recent years and now has offices in 32 different countries and provides services to more than 180 countries.

SICPA’s investment news came at a time when the Turkish economy braces for massive impacts of the coronavirus pandemic. Two weeks ago, the government said nearly 150,000 businesses had temporarily closed, pushing unemployment up. The virus-induced crisis is also likely to hit tourism and tourism-related sectors in the upcoming months.


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