Toyota Tsusho Corporation, the trading unit of the Japanese car producer Toyota Group, has announced that it has established an electrical steel sheet processing company, Techno Steel Processing Turkey (TSPT), in Bursa in northwestern Turkey.
TSPT is scheduled to begin commercial manufacturing of electrical steel, which is used in power station transformers, in mid-February 2015. The company's products will be sold in Turkey and neighboring countries, primarily European markets. According to Toyota Tsusho, demand for electrical steel sheet is also expected to increase in the neighboring North Africa and Middle East regions, where populations are expected to continue growing. Additionally, there is robust demand in Turkey. The country's electrical industry is expected to continue growing, stimulating new demand for electrical steel sheet.
TSPT will be Toyota Tsusho's third electric steel sheet processing center outside Japan, following the commercial start of Techno Steel Processing de Mexico in 2002 and the raising of its ownership in Indian electrical steel sheet and iron core manufacturer KRYFS POWER COMPONENTS LTD to 20 percent in 2013.