The Free Press Journal

Voltas to enter home appliances mkt; forms joint venture with Arcelik

-

NEW DELHI: Air-conditione­r maker Voltas and Turkey's Arcelik have decided to set up a $ 100 million joint venture for making a foray into the country's consumer durables market. The proposed JV will launch refrigerat­ors, washing machines, microwaves and other white goods and domestic appliances in India, the two companies said in a joint statement. "Voltas Limited, a Tata Enterprise; and Ardutch BV, a subsidiary of Arcelik AS - part of the Koc Group, have agreed to establish a joint venture company (JVC) in India, to enter the consumer durables market in the country. The new company to be incorporat­ed in India will be an equal partnershi­p joint venture," the companies said in a joint statement.

Newspapers in English

Newspapers from India