Sabah – Following its establishment in January, Mitsubishi Electric Turkey has announced plans to invest in a factory automation (FA) center in Istanbul to support its ongoing expansion in the country.
The investment in Istanbul’s Umraniye District will mainly support Japanese automotive and component manufacturers in Turkey. The country hosts manufacturing plants for Toyota, Honda and several other global automotive brands.
With the third largest population in Europe and a rapidly growing GDP, Turkey's economy is expected to see robust growth, particularly in the automotive and food industries, and the FA market is forecast to expand 10% each year. Major Japanese manufacturers will be increasing their activities and raising demand for FA products and related service support.
Mitsubushi Group’s operations in Turkey include the building of a nuclear power plant in cooperation with French Areva. Last week the finance arm of the Japan-based conglomerate, The Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU), was granted a banking license to operate in Turkey.