Japanese giant Toshiba Carrier Corporation has announced the establishment of a new manufacturing subsidiary in Gniezno, mid-western, Poland. The heating, ventilating and air conditioning (HVAC) joint venture represents an investment of around 3.0 billion Japanese yen (€24.7-million) and is part of a push to enhance the company's business foundation and presence in Europe.
The 17,000 m² facility is scheduled to begin operations before the end of the year. Image: Toshiba
Europe has seen sound HVAC growth for the last three years (2016 – 2018) with a Compound Annual Growth Rate (CAGR) over 6%, and is expected to enjoy sustainable growth driven by solid demand for energy-efficient HVAC products to address environmental concerns and EU legislation. Europe is also witnessing a recent surge in sales of heating and hot water supply equipment using heat pumps, or air to water (ATW) equipment as an alternative for heating and hot water supply equipment using gas and other conventional boilers.
The new manufacturing facility will allow Toshiba Carrier to reduce product lead time by one-third, reduce product costs, and bolster its product lineup catering to particular needs in Europe.
The availability of a well-qualified workforce, the proximity to Western European nations and attractive investment incentives are cited by the company as the major factors in the decision to locate its first European manufacturing base in Poland.
Toshiba said in a press release: "The establishment of the new subsidiary will boost Toshiba Carrier’s global manufacturing and engineering portfolio, which includes on-going programs 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) Co., Ltd., in Hangzhou, China. With these proactive investment initiatives inside and outside Japan and its long-standing alliance with Carrier Corporation, Toshiba Carrier strives to capitalise opportunities in order to better serve customers with better solutions and further grow globally."
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