20 August 2012

Toray International Opens Representative Office in Istanbul, Turkey

20 August 2012 - Toray International, Inc. (headquarters: Chuo-ku, Tokyo) today announced the opening and start of operations of a representative office in Istanbul, Republic of Turkey, to help develop the market in the country as well as in surrounding nations. 

Turkey has a population of about 74 million people, almost half of which are young people aged 29 years old or below. From the economic perspective, the country has been growing steadily with an annual real GDP growth rate of about 5% over the past eight years. Its main private industries include automobile, home electrical appliances, textile and agriculture, and the economy is expected to grow broadly. Geographically, Turkey is located in between Asia and Europe and has good access to East Europe, Middle East, Central Asia and North Africa.

Taking advantage of the newly opened Istanbul Representative Office, Toray International will implement measures that utilize the local base including swift response to customer requirements and collaborations with local businesses to promote enhancement of business foundation and expansion of its existing businesses including industrial material fibers, textiles and imaging materials. 

Toray International will also accelerate efforts in new businesses such as development of supply chains that utilizes production bases in Turkey and surrounding countries to drive forward business expansion. 

Under the medium-term management program Project AP-G 2013 launched in 2011, Toray Group aims to transform itself into a corporate group that continually increases revenues and profits and has been working on group-wide projects of Green Innovation Business Expansion (GR) Project, Asia and Emerging Country Business Expansion (AE) Project and Total Cost Reduction (TC-II) Project. 

The opening of the Istanbul representative office is being driven forward by Toray International, which is the core trading firm of Toray Group, and is part of the basic strategy of AE Project to capture the anticipated leap in economic growth in Asia and emerging countries in other regions. 

Toray International will continue to expand aggressively into emerging markets that are expected to grow significantly and lead the expansion of Toray Group’s global business. 

Source: Toray