Toshiba Air Conditioning has revealed plans to double sales by 2020, as part of a five year growth strategy.
The move follows five years of double-digit growth by the firm, despite challenging market conditions. The initiative will be backed by the introduction of new products, increased stocking levels, new appointments, a major expansion in production capacity, and the roll out of a global training initiative.
Toshiba is dramatically increasing stocking capacity at its Plymouth facility with an extension and addition of a further 44,000sq ft of racking space in phase 1, ensuring immediate product availability across its most popular ranges of split and VRF air conditioning.
On the research and development side, the Toshiba factories are employing around 350 additional design engineers, to enable the company to fast-track the development and introduction of innovative new air conditioning technologies.
Work is already under way on a major extension to the state-of-the-art Toshiba Thailand factory, including expansion of its world-class research and development facilities, due for completion later this year.
It will include the creation of a new global Technical Training Centre, with capacity to train 150 delegates simultaneously, equipped with Toshiba’s full range of air conditioning and control technology.
The planned growth is supported by the recent creation of the Building and Industrial System (BIS) group within United Technologies, bringing together Toshiba Air Conditioning, Carrier Air Conditioning, Chubb security and fire systems and Otis, the lift specialists.
General Manager of Toshiba Air Conditioning UK, David Dunn (pictured right), said: 'It is obviously a challenging target, particularly given that the base year for the growth target is 2014, which was a very strong year for Toshiba. However, I am confident that the strategy we are pursuing is right, and that we have the plans in place to deliver.
'It will require significant investment across the business, in new products, manufacturing facilities and logistics. But this is now in place and we are well on the way to creating the new infrastructure required.'
He added: 'A key element, as ever, will be people. As well as growing our own people from within to take on new roles and responsibilities as the organization expands, we will be looking to recruit the best talent to join the successful Toshiba team.'