Japanese air conditioning company invests 260 million USD in Turkey

Posted on 17 October 2011

17 October 2011, Turkey – Following the acquisition of Turkey’s Airfel, Daikin, a leading Japanese air conditioning manufacture, has announced it will be using Turkey as a regional centre for development and manufacture serving markets in Europe, the Middle East and Africa. Daikin paid 260 million USD for Turkey’s Airfel, one of the biggest acquisitions made by Daikin. At a recent press conference Mr Hasan Onder, Daikin’s Turkish CEO said “Turkey’s climatic products have reached 1 billion Euros of which Daikin has a 12 percent share”. Daikin estimates the climatic air conditioning products market will increase to 1.85 billion Euros by 2015 and hopes Airfel’s market share will increase to 20 percent. Source: Invest in Turkey.

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