The European Bank for Reconstruction and Development (EBRD) will provide Beko Egypt Home Appliances Industries with a senior loan of up to $50 million to finance its first production plant at the industrial city in the 10th of Ramadan City, the bank stated.The loan will be mainly used to fund the construction of the building of the eco-friendly home appliances manufacturing plant as well as the establishment of a research and development center.
The new production facility is projected to commence operations by the first half of 2024
Tag Archives: appliance manufacturer
Beko Egypt factory update
Beko Egypt, a subsidiary of Turkish white goods conglomerate Arçelik, will open its first factory in Egypt early 2024 instead of the fourth quarter of this year as previously announced.
The factory, located in the industrial city in the 10th of Ramadan area, spans an area of 114,000 square metres, and is being developed at total investment exceeding $100 million, according to the company’s press statement.
Appliance Snapshot 🌍
🔹 Electrolux:
* Q2 Revenue: -3% YoY
* Major challenges: Inflation, interest hikes, geopolitics
* Regional dips: Europe -10%, APAC & MEA -12%
🔹 Whirlpool:
* H1 Revenue: $9.4B (YoY -5.8%)
* Q2 Regional Growth: Latin America +4%, North America -5%
🔹 Samsung:
* H1 Revenue: KRW 123.8T (YoY -20%)
* Highlight: VD/DA segment growth & efficient cost management in white goods
🔹 LG Electronics:
* H1 Revenue: KRW 40.4T
* Q2 Trends: Stable H&A, B2B sales slowing
One sixth of the European plants are in Italy
With 42 production plants out of 240 in Europe, Italy confirms itself as the pole in the production of household appliances according to data from Applia Europe
WHITEGOODSNOW 