IPG opens office in Turkey, underscoring a hot laser market
The fiber laser leader's new office in Istanbul underscores the growing importance of the Western Asian region as a key industrial laser market.
Oxford, MA -- Industrial Laser Solutions has been tracking the importance of the Western Asian region, and specifically Turkey as an increasingly important laser market. ILS' next annual market review and forecast (January-February 2013 issue) will include a report on industrial laser activity in this country.
The latest supporting evidence: IPG Photonics has opened a new office in Istanbul, Turkey, to support and service the company's fiber lasers in this and nearby countries. The office will include sales, support, technical, and administrative staff.
"In a short time, we developed numerous cutting OEMs in Turkey which use our high-performance fiber lasers. Our continued success there merits a local sales and service presence," stated IPG CEO Valentin Gapontsev. Leading the operation will be Kubilay Yildirim, country manager of IPG Eurasia, who has experience in laser welding, cladding, drilling, and cutting from years working in GE's global laser applications group.
Turkey's economy expanded by more than 9% in 2010 and another 8.5% in 2011, among the fastest growing economies in the world (now ranked 16th in size) and one of the few growing at all in Europe, notes IPG, citing GDP figures. IPG CFO Tim Mammen specifically called out Turkey as a strong growth market during the company's 2Q12 results call.
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