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 Turkey’s northwestern city of Eskişehir, according to a GE executive.
The firm will produce new compressor-wing technologies only in Turkey, said GE Turkey Managing Director Kürşat Özkan. The investment totals nearly $50 million, he added.
Speaking about the global crisis and its impacts, Özkan said that GE will continue its activities in Turkey. “We have started investing in future technologies here in our Eskişehir division, although there is a capacity surplus in the world. New compressor-wing technologies will be produced only in Turkey.”
The firm has already started developing some of its production technologies in Turkey, he said, adding, “It 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.” (more…)