Lahore : Following the disclosure made on 30 June 2016, Arçelik A.Ş. has disclosed that all closing conditions had been satisfied regarding the acquisition of production and sales companies operating in Pakistan under Dawlance brand.
Following the payment of the share purchase price by Arçelik’s 100% subsidiary Ardutch B.V. incorporated in the Netherlands, the share transfer is expected to be completed by 7 November 2016.
Arçelik A.Ş., pursuing leadership positions in the Silk Road countries, will incorporate Dawlance’s two manufacturing sites in Karachi and one in Hyderabad.
The addition of Dawlance into Arçelik’s operational network will strengthen the company’s international position .Dawlance is a leading home appliances brand in Pakistan, a promising market with 200 million people.
Dawlance is a leading player in Pakistan in refrigeration, microwaves, air conditioning and laundry categories.
Arçelik operates in 130 countries, and manages 10 core brands (Arçelik, Beko, Grundig, Defy, Arctic, Blomberg, Elektrabregenz, Leisure, Flavel and Altus), with sales and marketing offices located in 30 countries. The company has 27.000 employees worldwide and 15 manufacturing facilities in Turkey, Romania, China, South Africa and Thailand.
In the international arena Arçelik Group is the third largest player in its industry across Europe. Arçelik recorded a consolidated turnover of USD 5,2 billion in 2015, the highest in its history. 60 percent of this amount was generated through international sales.