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Shares of Ford’s Turkish unit, Ford Otomotiv Sanayi, surged to the highest in more than a year in Istanbul trading after Hurriyet newspaper said the company would start making the Transit van from 2012.

It already makes the smaller Transit Connect model line and recently began exports to the US.

The newspaper said Ford may spend about EUR400m (US$573m) to make the Transit van in Turkey, citing FOS deputy chief executive Nuri Otay.