Japanese giant, Toshiba Carrier Corporation, which primarily produces air-conditioning systems will open its first European production and distribution facility in Gniezno, western Poland, the Polish Investment and Trade Agency (PAIH) announced.
According to PAIH, the investment will be conducted within the Polish Investment Zone (PSI) programme, offering tax exemptions and inspiring enterprises for investment. The new facility will be located on the Kotrzynsko-Slubicka Special Economic Zone.
The new facility will deal with distribution and production operations. According to PAIH, the facility will enable the investor to slash production time by two thirds, reduce costs, plus broaden their range and adapt to the specific needs of Europe.
Toshiba Carrier Corporation CEO Toru Kubo said that the investment in Poland was part of the company's global development strategy.
The Japanese enterprise is known for producing air conditioners, refrigeration systems, fans and compressors
The decision to locate the production plant in Gniezno was reportedly made during the visit of Polish Prime Minister Mateusz Morawiecki to Japan. He took part in three sets of discussions between Polish and Japanese entrepreneurs and - according to PAIH - during one of them, the decision regarding Toshiba’s investment was made.
PAIH also reported that the value of the Japanese investments in Poland in 2019 reached EUR 121 mln. Moreover, the Polish Economic Institute (PIE) told the Polish Press Agency (PAP) that there are currently 72 investors from Japan operating in Poland.
Although, experts from PIE pointed out that trade with Japan is “deeply unbalanced,” as imports from Japan to Poland were worth around USD 4,2 bn, whilst exports to the East Asian nation amounted to just USD 641.3 mln.