Tag Archives: Arçelik

Arcelik AS in Turkey is in advanced talks with Japanese industrial conglomerate Hitachi Ltd. to take over overseas household equipment business

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Arcelik AS in Turkey is in advanced talks with Japanese industrial conglomerate Hitachi Ltd. to take over overseas household equipment business, people with knowledge said.

An agreement is likely to be reached within the next few weeks, the people said, asking not to be identified because the information is private. According to the people, the transaction can be valued at about $ 500 million, according to the people.

The potential deal would contribute to the $ 83 billion in sales announced by Japanese companies this year, 38% higher than a year earlier, according to data compiled by Bloomberg. Hitachi has requested separate offers for its listed metal unit because it wants to streamline its business, Bloomberg News reported. It also left a UK nuclear project in September

KONKA Group Acquires Beko Changzhou Plant and Reaches a Strategic Cooperation with Arcelik

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Jiangsu KONKA Smart Electrical Appliances Co., Ltd. acquired Beko Changzhou Plant and entered into a strategic cooperation agreement with Arcelik (the parent company of Beko).

By signing this agreement, both parties agree to share their developments related to systematic washing machine design. This will help make up for KONKA’s engineering capacity shortcoming for KONKA drum washing machine manufacturing, facilitate the export of KONKA washing machines to Europe, America and other regions, and further promote the globalization of KONKA white goods and the KONKA brand.

In 2021, the forecasted annual sales volume of KONKA drum washing machine is over 500,000 sets, reaching a level near first-tier brands. In the next 3 years, the planned annual total sales volume of KONKA washing machine will surpass 1 million sets. By then, KONKA will become one of the first-tier washing machine brands in China.

The strong alliance with Arcelik, as one of the major measures of KONKA’s Ten-billion-sales-volume Strategy for White Goods, marked the beginning of a new phase for KONKA drum washing machine: a shift from OEM to independent R&D, design, production and manufacturing. In the future, led by KONKA Group’s strategic transformation, KONKA white goods will continue to update its products targeting consumer pain points, such as intelligence and healthcare, and enhance its core competitivenes

Romanian home appliance maker Arctic closes factory after 66 workers contract coronavirus

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Romanian home appliances manufacturer Arctic, a unit of Turkey’s Arcelik, said that it has temporarily closed its factory in Gaesti, in Arges county, after 66 workers contracted the coronavirus infection.

Arctic aims to restart production of coolers on June 2, while the refrigerator lines are planned to resume operations on May 25, it said in a press release on Saturday.

In the meantime, the factory will go through an intense disinfection programme.

All 4,000 employees working in Gaesti have been sent into technical unemployment until production line resume activity.

Arctic confirmed the first coronavirus case at the factory on May 7. None of the infected Arctic employees had displayed any Covid-19 symptoms.

Arctic Gaesti, established in 1970, was acquired by Arcelik in 2002. The unit manufactures three main brands of refrigerators: Arctic for the domestic market and Beko and Grundig mainly for exports.

In October 2019, Arctic opened a washing machie factory in Ulmi, also in Dambovita county, with a production capacity of 2.2 million units per year.

Arcelik BEKO profit rise

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Arcelik the white goods arm of Turkish industrial conglomerate Koc Holding said its consolidated net profit grew by 14.7% to 259.4 million lira ($36.5 million/33.6 million euro) in the first quarter of 2020.

Total revenue increased by 12.53% on the year to 7.77 billion lira in the January-March period, Arcelik said in an interim financial statement filed with the Istanbul bourse on Thursday.

The company’ gross profit from commercial operations rose by 10.3% year-on-year to 2.5 billion lira in the first quarter.

The cost of sales increased to 5.3 billion lira from 4.7 billion lira a year earlier.

Arcelik specialises in production, marketing, sales and after-sales customer service in the area of white goods, consumer electronics, small home appliances and kitchen accessories. The company has 21 production facilities in eight countries and 34 sales and marketing offices in 30 countries.

Arçelik, and its brands Beko and Grundig, received the TGC Awards for its sustainability policy

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TCG Awards are given to the most innovative brands operating in the technical consumer goods sector, in the EMEA macro area. This year the Turkish multinational Arçelik, which also includes Beko and Grundig brands, was awarded with this recognition within the ‘Sustainability’ category. The winners are selected by a jury made up of top managers of the main EMEA technology dealers and a representative of GFK. The aim of the award is to search for brands in various sectors to be awarded as the brand of the year, the specialist with the most impactful category, the most relevant technological innovation, the brand that operates also thinking about sustainability.
“The power of nature concentrated in household appliances to make us live healthy”: «faithful to this mood – they comment from the company – Arçelik has always been careful to the environment and people’s health and is committed to contributing to the creation of a green future through products developed on the principles of sustainability and efficiency. This approach to production has been repeatedly recognized nationally and internationally, obtaining numerous prizes and awards in the field of sustainability. All activities and emissions deriving from production activities are carried out in accordance with international standards and verified by independent control bodies. ‘Respecting the World, Respected Worldwide’: this is the vision adopted by the Group that guides all production activities, aimed at saving energy and water and a responsible approach to production and consumption, from waste management to recycling.
Arçelik also interprets the sustainability theme for Beko and Grundig brands as a lifestyle and it is present in all the internal dynamics of the business models: a fundamental strategy for the Company to evolve and respond in a timely manner to the changing world and to always be different and in step with new economic needs, the environment and people.
For the same category, the company also won this year the gold medal and inclusion in the 2020 sustainability yearbook (2020samyearbook) which highlights the best performing companies in the various sectors in terms of attention to the environment, social responsibility and with significant financial governance (ESG).

Arçelik filed lawsuit against LG for patent infringement

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Arçelik A.S, Turkey’s leading brand of white goods as well as smaller household electronics, filed a lawsuit against LG Electronics and its subsidiaries for patent infringement concerning its “direct drive” technology in LG’s washing machines, said Finance Yahoo.

Arçelik is also the second biggest brand of electronic goods in Europe, selling its products abroad under the Beko brand. It had a turnover of 31.9 billion TL in 2019 and receives 70 percent of its revenue from their international markets. Their BEKO products make up one-in-five home appliances sold in Britain.

“Direct drive” is an Arçelik-developed technology which prevents damage to clothes. Arçelik was granted a patent which was filed in 1997, and claims that LG is using this technology without a license.

LG Electronics showed no effort to resolve these infringement issues even after Arçelik’s warning, leaving Arçelik with no choice but to file a lawsuit,

World’s first washing machine with microplastics filter

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Turkish manufacturer Arcelik, the parent company of Beko and Grundig, has announced plans to launch the world’s first washing machine fitted with a built-in microplastics filter.

Arcelik CEO Hakan Bulgurlu announced the new washing machine in a keynote address at the IFA 2019 technology trade show in Berlin and said it would be rolled out to customers in 2020.

Bulgurlu called for closer industry partnerships and said the company was ready to share its new technology for the greater good. It’s claimed in some studies that more than one million fibres are flushed down the drain and end up in rivers and oceans after every single washing load. Although this number does depend heavily on the type of fibres used in textiles – along with the type of fabric construction.

Arçelik Aims to Raise Awareness on Climate Change Risks Through Mt. Everest Climb

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Arçelik takes another key initiative to tackle global warming in line with its ‘Respecting the World, Respected Worldwide’ vision. CEO Hakan Bulgurlu will attempt to climb Mount Everest to raise awareness on climate change risks. Arçelik continues its efforts to build a sustainable future through its environment friendly products, sustainability projects and campaigns. Having sustainability at the heart of its business operations, the company created a product portfolio which is more than 90% recyclable and set a goal of being carbon-neutral in manufacturing by 2025.

The expedition will be documented in a series of social media posts on Arçelik Global and Hakan Bulgurlu’s social media channels.

ABOUT ARÇELİK
Founded in 1955 Arçelik has operations in the durable consumer goods industry with production, marketing and after-sales services. Arçelik offers products and services in 146 countries with its 32,000 employees, 22 different production facilities in 9 countries (Turkey, Romania, Russia, China, South Africa, Thailand, Pakistan, India and Bangladesh), 34 sales and marketing companies all over the world and with its 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Dawlance, Voltas Beko, Altus) Arçelik is listed on Istanbul Stock Exchange.

Arçelik continues to expand its footprint in Asia-Pacific,

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Arçelik continues to expand its footprint in Asia-Pacific, announcing the acquisition of Retail Holdings Bhold BV which is the majority shareholder of Singer Bangladesh, one of the leading home appliances retailers and manufacturers in Bangladesh for $75 million

Founded in 1905 and headquartered in Dhaka, Singer Bangladesh has an extensive product portfolio, ranging from refrigerators to washing machines, televisions to air conditioners. It has top two positions in major product groups as well as the largest retail distribution network in Bangladesh appliance market. Singer Bangladesh has 1,507 employees and it reported 2018 revenues of $164 million. Singer Bangladesh’s reported EBITDA and net income are $20 million (12.4%) and $11 million (6.7%) respectively.

Arçelik has been intensively growing in Asia-Pacific in the last decade with greenfield investments in China, Thailand, Pakistan, and India in a bid to establish a trade corridor along the historical Silk Road.

Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu said: “This acquisition is another significant step on our Silk Road strategy. Bangladesh is one of the fastest-growing economies in the world, and it will further accelerate in the medium to long term. The market offers huge potential with its expanding middle class and young population. We will combine our global expertise, scale and knowledge with the strong market position of Singer Bangladesh equipped with its strong brand image, for further product developments to grasp the local market needs.”

Arçelik CEO Hakan Bulgurlu said; “Over the next decade, the growth in our industry will come from Asia-Pacific. Singer Bangladesh is a strategic fit for us, and this deal is a unique opportunity to invest in Bangladesh, a market which holds a great untapped potential. Singer Bangladesh has a strong brand heritage, extensive retail network, and a talented management team. We will continue to build on these strengths by pushing new boundaries and creating strong synergies across retail management, production, purchasing and product sourcing. Our mid-term target is to become the market leader in the major product groups

Arçelik to Acquire Singer Bangladesh Operations for $75 Million
Arcelik Logo (PRNewsfoto/Arcelik)
NEWS PROVIDED BY

Arçelik
22 Mar, 2019, 14:53 GMT

Arçelik continues to expand its footprint in Asia-Pacific, announcing the acquisition of Retail Holdings Bhold BV which is the majority shareholder of Singer Bangladesh, one of the leading home appliances retailers and manufacturers in Bangladesh for $75 million

The deal is key to Arçelik’s strategy of creating a continuous and strong presence along the historical Silk Road

ISTANBUL, March 22, 2019 /PRNewswire/ — Arçelik (IST: ARCLK), a leading player in the home appliances industry, has signed an agreement to acquire Retail Holdings Bhold BV which has a majority stake in Singer Bangladesh Limited (SINGERBD), one of the leading home appliance retailers and manufacturers in Bangladesh, to expand its foothold further in Asia-Pacific. Under the agreement, Arçelik’s wholly owned subsidiary Ardutch B.V., will acquire Retail Holdings B.V., the company that controls 57 percent of Singer Bangladesh shares in a deal worth of $75 million.

Arçelik CFO Polat Şen, Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu, Arçelik CEO Hakan Bulgurlu (PRNewsfoto/Arçelik)
Arçelik CFO Polat Şen, Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu, Arçelik CEO Hakan Bulgurlu (PRNewsfoto/Arçelik)
Founded in 1905 and headquartered in Dhaka, Singer Bangladesh has an extensive product portfolio, ranging from refrigerators to washing machines, televisions to air conditioners. It has top two positions in major product groups as well as the largest retail distribution network in Bangladesh appliance market. Singer Bangladesh has 1,507 employees and it reported 2018 revenues of $164 million. Singer Bangladesh’s reported EBITDA and net income are $20 million (12.4%) and $11 million (6.7%) respectively.

Arçelik has been intensively growing in Asia-Pacific in the last decade with greenfield investments in China, Thailand, Pakistan, and India in a bid to establish a trade corridor along the historical Silk Road.

Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu said: “This acquisition is another significant step on our Silk Road strategy. Bangladesh is one of the fastest-growing economies in the world, and it will further accelerate in the medium to long term. The market offers huge potential with its expanding middle class and young population. We will combine our global expertise, scale and knowledge with the strong market position of Singer Bangladesh equipped with its strong brand image, for further product developments to grasp the local market needs.”

Arçelik CEO Hakan Bulgurlu said; “Over the next decade, the growth in our industry will come from Asia-Pacific. Singer Bangladesh is a strategic fit for us, and this deal is a unique opportunity to invest in Bangladesh, a market which holds a great untapped potential. Singer Bangladesh has a strong brand heritage, extensive retail network, and a talented management team. We will continue to build on these strengths by pushing new boundaries and creating strong synergies across retail management, production, purchasing and product sourcing. Our mid-term target is to become the market leader in the major product groups.”

Stephen H. Goodman, Retail Holdings Chairman, President and CEO, noted “The Singer Bangladesh business will benefit significantly from the sale as Arçelik is a much larger and financially much stronger company, with a commitment to and a world-wide reputation in the home appliance sector. Following the sale, Singer Bangladesh will continue to have a royalty-bearing license from SVP Worldwide, the owner of the Singer trademark, to use “Singer” in the company name and the “Singer” brand on its stores, products and services.”

ABOUT ARÇELİK
Founded in 1955 Arçelik has operations in the durable consumer goods industry with production, marketing and after-sales services, Arçelik offers products and services in 146 countries with its 30,000 employees, 21 different production facilities in 8 countries (Turkey, Romania, Russia, China, South Africa, Thailand, Pakistan and India), 34 sales and marketing companies all over the world and 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Dawlance, Voltas Beko and Altus). Arçelik is listed on Istanbul Stock Exchange.