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Toshiba sets up office in Istanbul

05 Aug 2013
Toshiba Corporation has set up an office in Istanbul in order to tap into Turkey’s energy market.

The TAET sales subsidiary is a strategic moved for the Tokyo-based company, which seeks to drive sales and reinforce its capital base by entering cooperation with local partners.

Toshiba has said it will position TAET as a sales and procurement base of power systems for Turkey and its neighbours, with sales targets of $400 million for the financial year 2017.

From this new Turkish base, Toshiba will offer a comprehensive line-up of fossil and geothermal power systems, where the company holds the world No. 1 market share. A growth trajectory calculated by the Turkish government anticipates that power generation capacity will rise from a current value of 57.072 MW to over 110,000 MW.