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: BEKO
DOMINO: The Little One’ as Beko launches an immersive gaming experience
Beko one of Europe’s leading appliance manufacturers today reveals the trailer for its first ever single-player game experience DOMINO: The Little One. Launching worldwide on the 23rd of November, DOMINO: The Little One is a free to play 2D platformer adventure game available to all and designed to raise awareness among consumers about the consequences and challenges of climate changeAs a manufacturer to launch such an experience, Beko hopes to challenge conventions and transcend boundaries in its mission to improve sustainable solutions in every home around the world.
Available to download on Steam, iOS and Android devices from 23rd November, DOMINO: The Little One, is a single-player game that sees players progress through a series of four chapters each linked to a key issue relating to the environment. Chapters include a landscape addressing the issue of single-use plastic, an environment that highlights the impact of fossil fuels, ecological imbalance and a world devastated by deforestation. Players will assume the role of an introverted and eco-anxious child named Domino with the mission to solve pressing environmental challenges in their dreams. Along the journey, the player is accompanied by a mysterious voice encouraging Domino to overcome their fears associated with climate change as well as highlight actions to be performed to combat the issues
From its dishwashers and washing machines, to its vacuums and coffee machines, Beko harnesses cutting-edge technology to integrate sustainability into each of its consumers’ homes. With the launch of DOMINO: The Little One, Beko aims to reach broader audiences on the subject of climate change beyond its appliances.
Speaking on the launch of Domino, Akın Garzanlı, Chief Marketing Officer of Beko, says, “Domino is a very different kind of launch for us at Beko. The findings from the UN’s Green Game Jam clearly indicate that an appetite for the worlds of sustainability and gaming to join forces with 68% of gamers wanting to engage more in environmental issues. They want to engage more, learn more, and contribute more. They want to be part of the solution. Domino is our way of reaching out to them. It is a game that encourages you to think critically and act ethically by presenting you the choices that we have. We invite you to play Domino and to share it with others and hope you will find it enjoyable and informative.”
Antitrust Beko whirlpool
English Antitrust yesterday published the list of issues it intends to evaluate to give the green light to the merger of a large part of # whirlpool ‘s European activities with those of arçelik in beko europe . Two weeks of fire began for the corporate affairs teams of Whirlpool Corporation , led in Europe by Maurizio David Sberna and of Arçelik Global . They have until November 21st to demonstrate to the Competition and Markets Authority that the operation would not significantly reduce the competitive framework in the medium-low range of the washing and cooking categories. Whirlpool’s key argument is “if the merger doesn’t happen we would leave the market and competition would be reduced anyway”. Arçelik seems to understand from the statements of its CEO Hakan Bulgurlu that “the crisis phase of the sector is not short-term” and rationalization therefore appears to be the only way to transfer value to consumers.
BEKO, HEALTHIER COOKING WITH THE AIR FRYER
Beko’s new digital air fryer has a capacity of 4.7 liters and a non-stick coating basket for uniform cooking as well as easy cleaning after the meal. This appliance uses hot air technology to prepare food in a healthy way, guaranteeing crunchiness and flavor without immersing it in oil. The LCD #display allows you to select the desired #ltemperature and cooking time for each dish. There are 8 automatic cooking programs and 1500 watts of power.
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.
EU antitrust approves Whirlpool-Arçelik merger
The European Antitrust has approved the merger of Whirlpool ‘s activities in Europe with those of Arçelik into Beko Europe . European Commission officials believe that the union of the former Whirlpool EMEA brands with Turkish ones does not lead to dominant positions.
The start of the operation announced in January 2023, however, must wait until the spring of 2024 when the English Antitrust Authority will complete its in-depth investigation having detected in an initial analysis the risk of a significant reduction in competition, especially in some areas of the market .
Whirlpool confident of a ‘green light’ also from London
Hailing the EU Commission’s decision, Whirlpool said it was confident that the CMA, at the end of the investigation, would also agree with the assessments expressed at the European level. However, the operation will be carried out, at worst, giving up access to the English market for some brandsThe Whirlpool-Arçelik operation in brief
Subject of the agreement: The agreement includes Whirlpool’s 38 European subsidiaries and 9 production sites in Italy, Poland, Slovakia and the United Kingdom, as well as Arçelik’s 2 production plants in Romania and its 25 European subsidiaries. Together, this will result in a production capacity of approximately 24 million white products per year.
Contractors . Shareholders of the new company are Whirlpool Emea Holdings LLC and Ardutch, a wholly owned subsidiary of Arçelik, a Dutch holding company through which Arçelik controls its activities in Europe. The deal will see both Ardutch and Whirlpool transfer their European subsidiaries to new Chinese company Beko Europe.
Subdivision of shares. After these transfers, it is expected that 75% of the new company will be allocated to Ardutch BV and 25% to Whirlpool. The final post-closing ownership ratio will be determined taking into account the parties’ respective 2022 EBITDA, net asset values, net debt and net working capital.
Arçelik profit
Arçelik has published excellent data relating to the third quarter of 2023. The Turkish financial site Borsatek reports a net profit of 1 billion Turkish liras (34 million euros): +198% compared to the third quarter of 2022 (an annual inflation of 65% must be considered ). Ebitda grew by 120% to 6.4 billion Turkish liras.
Consolidated revenues increased 70% year-on-year in line with forecasts, to TL 58.2 billion (nearly 2 billion euros).
Despite persistently weak demand conditions in international markets due to the difficult macro and political environment, revenue growth was supported by price increases and strong sales growth in Turkey.
Analysts welcome with satisfaction the results of the group which mainly operates under the Beko brand,
İş Investment has increased the target price for 12 months from 202 TL to 230 TL (currently it is 152 TL) as the company’s third quarter data have met expectations with strong operating profitability and strong net profit growth.
The company revised its revenue growth expectations in 2023 from 60% to 75% for its Turkish operations while remaining pessimistic for its international operations which it expects to contract in foreign currency terms by 4% during 2023.
Beko unveils energy-saving technologies
Beko have unveiled the latest energy efficient appliance offerings in their Beko and Grundig ranges. The company used the recent IFA 2023 trade fair in Berlin as an opportunity to showcase their brands’ latest technologies and emphasise the importance of innovation in the company’s overall strategy.
Highlighting the impact of collective action towards more sustainable communities, the company introduced during IFA 2023 the “positive domino effect” philosophy which drives Beko plc’s product strategy and technology innovation. The event culminated in the reveal of two new key technologies under the company’s global brands: EnergySpin by Beko and AI-Sense by Grundig.
By reinventing the conventional laundry process, Beko’s EnergySpin technology helps to reduce a household’s energy consumption. Rather than relying heavily on heat to dissolve detergent and eliminate stains, EnergySpin technology releases the detergent upfront. It harnesses the power of faster-than-usual drum speeds to elevate the pace at which the detergent dissolves. Called ‘EnergySpin,’ these unique drum movements eliminate the need for excessive heat generation during the wash, resulting in up to 35% less energy consumption than conventional machines while maintaining high-quality cleaning performance,Grundig’s AI-Sense technology puts a new spin on the notion of “smart” washing. AI powers Grundig’s new AI-Sense washing machine technology, which automatically and intelligently identifies the fabric type, soil level, load weight, and rinse requirements to optimise detergent, energy, and water use. AI-Sense washing machines have approximately 28% of the product’s weight consisting of recycled materials, providing approximately a 32% reduction in the embedded carbon footprint of the product compared to a model that doesn’t use recycled materials.
Mike Beech, Beko plc Appliance Partners’ National Contract Specification Manager comments: “Beko’s EnergySpin and Grundig’s AI-Sense are two exciting new technologies which will make great additions to our already strong portfolio of energy efficient products available to our partners. Assisting with the delivery of new build projects within budget is a key element of the support we offer, whether our partners are simply seeking to meet current UK legislation standards or to go beyond. New homes providers who are looking to help their homeowners and renters to live more conscious, sustainable lifestyles through enhanced specification will be pleased to find that we can offer key models within our range of appliances that boast low energy and water consumption. These too will always be competitively priced versus our peers.”
Beko concerned about Chinese brands
Beko, the Turkish appliance Company, who is set to take over Hitachi’s consumer appliance business in Australia on October 1, in an effort to gain traction in the affordable premium market, is now concerned that Chinese brands are set to hurt sales of their bottom end Beko brand with management accusing the Chinese of setting up to dump product into the affordable appliance market.Recently Arcelik purchased a majority stake in Whirlpool’s household appliances business with the deal set to centre on Europe, however insiders are tipping that the business could end up with a deal in Australia.
Currently Whirlpool is distributed by the Harvey Norman owned distributor Arisit.
Beko unveils an innovative suite of products and highlights it’s “positive domino effect” philosophy at IFA 2023
Beko has launched its next generation of sustainable living appliances – including bringing ‘EnergySpin Technology’ to all its washing machine ranges. Showcased in Berlin at the IFA 2023 press conference, the technology works by reinventing the traditional washing processes. The strong message conveyed during the IFA technology conference this year emphasized the impact of collective action towards a more sustainable society, where Beko’s Chief Marketing Officer Akın Garzanlı and Chief Commercial Officer Ragıp Balcıoğlu introduced the “positive domino effect” term which drives the company’s product strategy and technology innovation.Beko’s EnergySpin technology promotes improved, sustainable household habits. Rather than relying heavily on heat to dissolve detergent and eliminate stains, EnergySpin technology releases the detergent upfront. It harnesses the power of faster-than-usual drum speeds to elevate the pace at which the detergent dissolves. Called ‘EnergySpin,’ these unique drum movements eliminate the need for excessive heat generation during the wash, resulting in up to 35% less energy consumption than conventional machines while maintaining high-quality cleaning performance.
In an effort to facilitate greater efficiency, Beko’s EnergySpin solution removes choice from the equation and integrates energy saving into all washing modes, rather than using a single eco mode. This means energy efficiency is now delivered as standard across our most popular wash cycles in addition to “Eco Program”: “Cottons,” “Synthetics,” “Quick,” “Delicates,” “Mix,” “20°C program,” and “ColdWash” program.”“20°C program,” and “ColdWash” program.”
EnergySpin is due to roll out across most of the range, providing Beko’s A-rated energy-saving appliances available across Europe. The product will be on the market by the end of 2023.
Akın Garzanlı, Chief Marketing Officer at Beko comments: “Our latest technology for Beko is utilizing cutting-edge innovation. Beko’s EnergySpin is a gamechanger technology that stands out in the industry. Beko’s mission is to promote sustainable lives in every household and we aim to ensure that our products last for an extended period before requiring replacement. Through our technology, innovation, and business model, we strive to empower our customers to make meaningful and positive choices that ultimately result in a better state of mind.”
Ragıp Balcıoğlu, Chief Commercial Officer at Beko, comments: “The cost-of-living crisis is impacting lives worldwide and forcing people to alter their spending habits. As we believe that listening to our stakeholders during these challenging times is more crucial than ever, we surveyed our European retailers and their feedback validated that the demand for energy-efficient and affordable products will continue into 2024. As the top-selling major home appliance brand in Europe, we aim to provide advanced technology combining the latest innovations, quality, and harmonious designs. Our goal is to empower consumers to live consciously and sustainably while getting the most value for their investment. We will keep our contributions to make sustainability the topmost priority in our industry, and we will work together with our stakeholders to create a positive domino effect.”bring the ethos of the positive domino effect to life, Beko has created an interactive experience set to launch at IFA 2023. Designed to inform consumers of the potential of the positive domino effect, the experience, named DOMINO: The Little One, is a free to play video game that helps consumers understand the impact of their choices. Set in a fantasy world devastated by climate change, players can experience the impact of positive, incremental actions necessary to survive within the game. The game will be available on Steam, App Store, and Google Play this winter.
WHITEGOODSNOW 