Brazilian energy, automation firm WEG plans to open USD29 million factory in Türkiye
Date
12/22/2024 6:45:20 AM
(MENAFN) Brazilian energy and automation company WEG has announced plans to open a factory in Turkey with an investment of €28 million (USD29 million) to produce industrial gearboxes, which are crucial components in mechanical systems. The factory will be located in the Aegean province of Manisa and is designed to meet the increasing demand for these products while also enhancing WEG’s production capacity.
The new facility will cover an area of 12,000 square meters (approximately 129,170 square feet) and will coordinate operations with WEG’s gearbox factory in Austria and its industrial motor production in Turkey. This strategic move aims to streamline production and expand WEG’s presence in the region.
WEG’s Turkish subsidiary, WEG Group Turkey, currently employs 750 people, with plans to create an additional 150 jobs through the new gearbox factory. This expansion is expected to further strengthen the company’s workforce in the country and contribute to local economic growth.
Ahmet Burak Daglioglu, President of the Turkish Presidency’s Investment Office, emphasized that Turkey's strategic location, skilled labor force, and robust industrial infrastructure continue to attract foreign investors. He pointed out that WEG's previous acquisition of Turkey-based Volt Elektrik for USD88 million further demonstrates the company’s confidence in the Turkish market. The new factory will not only increase production but also foster technology transfer, create more employment, and boost Turkey's export potential.
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