JAPAN: Toshiba Carrier is to establish a JPY3bn ($27m) air conditioning and heating factory in Poland.
Toshiba Carrier Europe SAS is to acquire an existing 17,000m² manufacturing plant in Gniezno, in mid-west Poland, and plans to start operations before the end of this year.
Toshiba Carrier says the new subsidiary company, named Toshiba Carrier Air-Conditioning Europe Sp zoo, will enable it to reduce product lead time by one-third, reduce product cost, and bolster its product lineup catering to particular needs in Europe.
Toshiba Carrier points to the sound HVAC growth experienced by Europe over the last three years with a CAGR over 6%. It is expected to enjoy sustainable growth driven by solid demand for energy efficient HVAC products to address environmental concerns and legislation.
Europe is also witnessing a recent surge in sales of heating and hot water supply equipment using heat pumps, or air-to-water equipment as an alternative for heating and hot water supply equipment using gas and other conventional boilers.
The proximity to Western European nations and attractive investment incentives, along with Poland’s quality workforce, are said to be the major factors behind the decision for the factory’s location.
The establishment of the new subsidiary is expected to boost Toshiba Carrier’s global manufacturing and engineering portfolio, which includes on-going programmes such as a new global R&D centre at Fuji Operations and the relocation and expansion of development and manufacturing facilities at Toshiba Carrier Air Conditioning (China) in Hangzhou.
Toshiba Carrier plans Euro and US bases – 3 January 2016
JAPAN: Toshiba Carrier has established a European subsidiary company and plans to set up a North American operation in a major global push on VRF air conditioning. Read more…