Vienna- Austria’s geographically central location in Europe, at a commercial and cultural crossroads, accords advantages to businesses operating in the country. Austria, which forms boundaries with eight contries -- Germany, the Czech Republic, Slovakia, Hungry, Slovenia, Italy, Switzerland and Liechtenstein -- is the major supplier, particularly for the powerful industry in Germany.
32% of Austria’s total exports are to Germany and its 103.7 billion in export volume in Euro exceeds India’s export volume (95 billion Euro). Austria, which is among the 25 nations with the largest export volume, is expected to derive 200 billion Euro worth of revenues from materials and services exported by 2010.
The presence in Germany of giant automobile industries such as BMW, Mercedes and Opel provides the dynamics for the development of Austrian industry. Wedco High Quality Tooling, established by Edip Bayızıtlıoğlu in 1991, manufactures cutting tools for heavy industries such as the automotive and electronics sectors amd is among the top companies in the Austrian market. Bayızıtlıoğlu, the founder of Wedco, which controls 10% of the Austrian market in production of precision cutting tools and dies, plans to increase this to 15% in 2012.
Following his father, who immigrated to Austria in 1971 from Izmir, the pearl city of Turkey in the Aegean region, Bayızıtlıoğlu and his mother came to Vienna in 1976. Upon completing his education in technical school, he became an engineer. He has been working in the cutting tools sector of various companies since the age of 20.
Bayızıtlıoğlu, who initially established Wedco as a commercial company and started production in 1995, states that all features, including the concept and design of cutting tools manufactured by them, are their own. Wedco, which covers an area of 3000 square meters, harbors 10 companies. The total number of employees in all of its companies is around 100.
The parent body includes Wedco Production, Wedco Service (modification of tools used in machining, tool-management, measurement protocols, quality consultation) and Wedco Tools (manufacturing of prime value products).
In parallel with Wedco’s development, its manufacturing place is being doubled. Bayızıtlıoğlu states, “Our high-quality consultancy is not a mere slogan, it is a company principle.”
Wedco, besides manufacturing its own products, also serves as the commercial and technical representative for Sumitomo, the largest manufacturer of CBN-rotating shafts, Horn, the prestigious German company which manufactures tools for lathes, and Nikken firms which produce rotary tables and support wraps. 70% of Wedco products are sold in Austria. Wedco, which started production in Turkey four years ago along with Portugal, also has investments in Italy and England. The company takes part in such international expositions such as EMO, EuroMold, Metav and TATEF. Bayızıtlıoğlu also serves as the Chairman of the Organization of Austrian Turkish Businessmen.
Last modified onSaturday, 06 May 2017 10:07
Latest from Admin TOA
- Hayri Ablak, Founder of Vocelli Pizza, Dies in Pittsburg
- THO Commemorates The Second Anniversary of the July 15 Coup Attempt
- Businessman Güzel Wrote for Washington Times: How U.S.-Turkey Relations Grow Stronger
- Morton’s Is Closing in Georgetown, Here’s Hakan Ilhan’s Plan to Replace It
- Turkish Consulate General Relocates Near the UN