A Japanese company has decided to move six plants from Belgium to Istanbul, attracted by the recent economic growth and business-friendly environment in Turkey, Turkish Trade Minister Zafer Çağlayan said at a recent meeting.
Japanese group Mayekawa, one of the world’s leading cooling systems manufacturers in the food, dairy, marine, oil and gas sectors are planning to set up new plants in Turkey because of the great investment potential in Turkey, Çağlayan said at a Turkish- Japanese Business Council meeting Thursday.
He called on other Japanese investors to follow suit, saying manufacturing in Turkey is “much more affordable and profitable” compared to Europe.
“Mayekawa MGT has decided to invest in one of the industrial zones in Istanbul,” said Cemal Yılmaz, general manager of Frigo Mekanik A.Ş, a Turkish Mayekawa retailer.
The company is preparing to shift all its operations to Turkey to manufacture freezing and compression technologies in Turkey, rather than Belgium. Mayekawa is considered one of the largest oil-flooded screw compressor manufacturers in the world and currently maintains operations in Tokyo, Los Angeles and Brussels.
Due to the low cost of production and labor in Turkey the company decided to leave Belgium and direct its new investments to Istanbul, Yılmaz said, although he did not disclose the amount the company planned to invest. “Frigo will remain the primary retailer of Mayekawa products in Turkey,” he said.
Mayekawa Director Tetsuro Shigeoka, CEO Toshio Yagitani, General Manager Shinichi Itou held private talks with Çağlayan to discuss the details and conditions of the Istanbul investment.
Mayekawa currently operates manufacturing facilities in Japan, Belgium, the United States, Brazil, Mexico and South Korea.