"We have purchased a plot in an organized industry zone in the Aegean city of Manisa for our new investments," Wiest told a press conference in the Mediterranean city of Antalya, where the Schneider Electric Initiative 2008 Fair was inaugurated.
The Schneider Electric has three factories in the Aegean city of Izmir, and another in Istanbul.
Wiest said that the company would move its factory in Izmir to Manisa, and invest 10 millions euros in the city.
"We are employing 1,250 workers in our facilities, and we are investing in Turkey because Turkey is close to the Middle East, North Africa and Caucasus and Turkey has an educated and qualified labor force," Wiest also said.
Wiest said the global crisis was a banking and finance crisis, and it would not have a direct impact on the company's sector.
Schneider Electric, the global specialist in energy management, offers integrated solutions to make energy safe, reliable, efficient and productive for the Energy and Infrastructure, Industry, Data Centers and Networks, Buildings and Residential markets. Schneider Electric's 120,000 employees in 102 countries generated revenue of 17.3 billion euros ($22.2 billion) in 2007, helping individuals and organizations make the most of their energy.