Jan. 8 (Bloomberg) -- Mitsubishi Electric Corp. opened a unit in Istanbul to expand its electronic business in Turkey and surrounding regions.
Mitsubishi Electric Turkey AS is 70 percent owned by European division Mitsubishi Electric Europe BV and the remainder is held by the parent, according to a statement on the Japanese company’s website. Kei Uruma is president for the Turkey unit.
Mitsubishi Electric’s business in Turkey includes air conditioning, factory automation and products such as satellites, elevators, escalators and electrical equipment for railcars, according to the statement. Sales totaled about $112 million in Turkey in the fiscal year that ended March 2012.
To contact the reporter on this story: Ercan Ersoy in Istanbul at firstname.lastname@example.org
To contact the editor responsible for this story: Benedikt Kammel at email@example.com