Posted by meb at September 24th, 2009
General Electric, or GE, a global media, technology, services and manufacturing company, has begun to invest in future technologies at its engine-parts division in Turkeyâ€™s northwestern city of EskiÅŸehir, according to a GE executive.
The firm will produce new compressor-wing technologies only in Turkey, said GE Turkey Managing Director KÃ¼rÅŸat Ã–zkan. The investment totals nearly $50 million, he added.
Speaking about the global crisis and its impacts, Ã–zkan said that GE will continue its activities in Turkey. â€œWe have started investing in future technologies here in our EskiÅŸehir division, although there is a capacity surplus in the world. New compressor-wing technologies will be produced only in Turkey.â€
The firm has already started developing some of its production technologies in Turkey, he said, adding, â€œIt may not sound reasonable to make such a manufacturing investment in a period marked with demand contraction in the market, but we will have positioned ourselves once the market demand returns.â€ (more…)