Arçelik A.Ş. one of the key players in global home appliances industry, has made a significant investment in Pakistan in line with its global growth strategy.
Following the disclosure made on 30 June 2016, Arçelik announced that it has obtained all required approvals from regulatory bodies and completed the closing transaction of Dawlance. The share transfer was completed on 2 November 2016.
Stating that Pakistan is a promising market with a population of approximately 200 million people and an increasingly growing economy, Arçelik CEO Hakan Bulgurlu said: “The acquisition of Dawlance is a significant milestone that consolidates our growth strategies in the region. We are pleased to expand our global outreach by adding Pakistan’s leading home appliances brand into our group. We welcome all our Dawlance colleagues to Arçelik family”.
“Arçelik operates across a vast geography spanning from Europe to Middle East and Africa to Asia and is progressing steadily on a global path. We have enormous investments in developing efficient appliances. By transferring Arçelik’s technology know-how and innovation capabilities we will invest in Dawlance to develop the business,” Bulgurlu added.
We will build on the strengths of Dawlance
Bulgurlu said: “With Dawlance joining Arçelik, we are now one big family with 11 brands, 18 manufacturing facilities in seven countries including Turkey, Russia, Romania, China, South Africa, Thailand and Pakistan, with a total workforce of 30,000 people worldwide” and added:
“Now that Dawlance is part of Arçelik, we will have even stronger scale, breadth and capabilities to compete more effectively and profitably in the global marketplace. We will further build on the strengths of Dawlance, its brand awareness, extensive distribution, sales and service network, professional management and competent workforce. As Arçelik, we are eager to present our innovative and resource efficient products to Pakistani consumers and will be dedicated to create economic and social value added in the region”.
Hassan Jamil, Dawlance Head of Marketing, said: “A new and exciting period lies ahead for all of us. I am confident that this combination will bring together great synergies and opportunities for Dawlance, to grow together as part of a larger and global organization”.