MUMBAI Voltas Limited – A Tata Enterprise, the undisputed market leader for residential air-conditioners in India, with more than 22% market share, and Ardutch B.V. (a subsidiary of Arçelik A.S.; part of the Koç Group Turkeys largest industrial and services group), had earlier announced a Joint Venture for Consumer Durable Products in May 2017.
Accordingly, a Joint VentureCompany (JVC) – Voltbek Home Appliances Private Limited(Voltbek) was established in India to engage in the business of White Goods. Voltbek has during the past few months taken various actions including identification of land for its manufacturing activities. Voltbek has today laid ground to start construction of their first manufacturing facility, spread over 60 acres, in Sanand, an upcoming industrial hub in Gujarat. This facility will be manufacturing Home Appliances that include refrigerators andwashing machines.
Voltbekwill leverage Arçeliks global expertise in setting up large, modern, state-of-the-art manufacturing unit, quality and R&D labs and International benchmarking processes and Voltass strong brand presence, and country wide sales and distribution network.
This manufacturing facility will be one of the first white goods appliances unit in the State of Gujarat, creating an OEM base for home appliances in the region along with local employment opportunities. The choice of Gujarat as the destination for the manufacturing unit was due to States ease of doing business, and good governance.
Speaking on this occasion Mr. Pradeep Bakshi, Managing Director & CEO, Voltas Limited, said, We are very happy to have laid the foundation stone for manufacturing plant here in Sanand, under the Make in India initiative. I am confident that Voltas, the No. 1 air conditioner company in India, and Beko, one of the leading home appliances brand of Europe, together, will play a significant role in catering to the consumer aspirations in the home appliances sector. As a Tata group Company, we have always kept the consumer interest first, and I am sure that this JVC will continue to delight all our stake holders.
As per industry reports, the Consumer Durables market in India is slated to grow at 1012 percent per annum. During the last 10 years, the Indian Major Domestic Appliances market grew by nearly 9 percent, surpassing the overall 3 percent growth of global white goods market.
Voltas Limited is a premier air conditioning and engineering solutions provider and a project specialist. Founded in Indian 1954, Voltas Limited is part of the Tata Group, and in addition to Air Conditioners, Air Coolers, Water Dispensers, Water Coolers. Voltas is among the top ten companies within the Tata group and is the undisputed market leader in room air conditioners in India with market share of more than 22% in FY18.
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