Tag Archives: Hitachi

Arcelik AS signed a deal to buy 60% of Hitachi Global Life Solutions

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Turkey’s leading household appliances maker Arcelik AS signed a deal to buy 60% of Hitachi Global Life Solutions Inc.’s for $300 million to deliver on its strategy to expand in emerging markets.

Arcelik and Hitachi GLS will form a new company that Arcelik will control to run operations in the home appliances market, excluding Japan, the Turkish company said in a filing to the stock exchange on Wednesday. The total transaction value is calculated on a cash-free and debt-free basis for the business,

Arcelik’s shares rose as much as 1% at the start of trading in Istanbul but were down 0.4% at 31.20 liras as of 10:04 a.m. Bloomberg reported on Friday that Arcelik was in talks to buy Hitachi’s oversees home appliance business.

The transaction includes two subsidiaries of Hitachi GLS with manufacturing facilities in Thailand and China, and 10 sales companies in the region that mainly sell refrigerators, washing machines, vacuum cleaners, rice cooker, water pumps and air conditioners. The annual production capacity of Thai and Chinese manufacturing firms is 3 million units of refrigerators and washing machines in total, according to the filing.

The consolidated net revenue of the acquired business, excluding Japan, was around $1 billion. Its earnings before interest, taxes, depreciation and amortization, or Ebitda, was about $70 million for the fiscal year ending on March 31. After the transfer, the product range is expected to be expanded with dryers, dishwashers, ovens and other small household appliances.wth Push

Arcelik sells products under 12 brands including Beko, Flavel, Grundig and Altus, according to its website. It’s expanded through acquisitions over the years, purchasing companies including South Africa’s Defy Appliances Pty Ltd. and Pakistan’s Dawlance Group.

The Turkish company has singled out the Asia Pacific region as a key growth market and last year agreed to buy control of the company that operates the Singer brand in Bangladesh.

“Asia Pacific will be the accelerator of the growth in our sector in the next 10 years with its increasing medium-class population, household revenues and improving retail channels and life style,” Arcelik’s chief executive officer, Hakan Bulgurlu, said in an emailed statement.

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

FrostWash by Hitachi, the air conditioner without maintenance

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Hitachi Cooling & Heating laboratories have succeeded in create an innovative technology that maintains the air conditioner clean, purifying the home air at the same time.
Premium FrostWash, the model equipped with this new technology, features the heat pump and is in A +++ energy class, ensuring a reduction of consumptions and a low environmental impact.
The most important innovation of this product is its ability in maintaining its parts and components very clean so that the emitted air is also very pure.
The FrostWash function, in fact, captures, freezes, washes and eliminates 91% of bacteria and 87% of mold present on the surface of the exchanger, to guarantee perfect hygiene of the air conditioner and a healthy environment. The function is automatically programmed but can also be activated by remote control. In this way, the air conditioning is always clean, also thanks to the internal components made of stainless steel, a material that reduces the percentage of bacteria by over 99% and dust by 62%. Moreover, the self-cleaning robot activates itself periodically, not requiring the opening of the air conditioner to clean the filters, so that classic maintenance is not necessary.
Premium FrostWash, that also received the Good Design Award by the Japan Institute of Design Promotion, is available in two versions: matt white and silver.