Arcelik and Hitachi Global Life Solutions Launch a New Joint Venture, Arcelik Hitachi Home Appliances
PR90417
ISTANBUL and TOKYO, July 1, 2021 /PRNewswire=KYODO JBN/ --
Arcelik Hitachi Home Appliances, the new joint venture will play a major role
in the Asia-Pacific region and will expand global sales of Hitachi branded
products (excluding Japan)
Today Arcelik A.ª. (ARCLK: IST) ("Arcelik") and Hitachi Global Life Solutions,
Inc. ("Hitachi GLS") announced the launch of a new joint venture company,
Arcelik Hitachi Home Appliances B.V. The new joint venture, established by
transferring 11 subsidiaries outside Japan (two manufacturing and nine sales
companies) of Hitachi GLS, is operationally based in Bangkok, Thailand. Arcelik
Hitachi Home Appliances provides manufacturing, sales, and after-sales service
for Hitachi branded home appliances (refrigerators, washing machines and vacuum
cleaners, etc.) outside Japan.
Arcelik has consistently expanded its home appliance business to 150 countries
around the world. The company has grown significantly in Europe and achieved
strong growth in South Asia over the last decade. Hitachi GLS has been
operating its home appliance business mainly in Southeast Asia and the Middle
East, where it enjoys a high-end brand image.
Arcelik Hitachi Home Appliances, the result of the collaboration between the
two companies, will leverage their strengths such as supply chain and
technological capabilities to build a competitive and innovative offer to
market. The newly assigned CEO will be Zafer Ustuner, was the former Regional
Head of APAC and General Manager of Thailand at Beko. Under his leadership, the
new joint venture will combine the sales networks of both companies to expand
the sales regions of Hitachi brand products to Europe, North Africa and other
regions, as well as to integrate business bases such as production systems and
procurement to strengthen our competitiveness. In the field of R&D, Arcelik and
Hitachi GLS will also integrate the knowledge of both parties to create new
value such as connected home appliances.
Sustainability is at the core of both Arcelik's and Hitachi GLS's strategies.
Through their combined leadership in energy efficiency and sustainable
solutions related to the home, the partnership will increase competitiveness
around these key issues in the broader market.
Comments from Arcelik's and Hitachi GLS's leaders
Fatih Kemal Ebiclioglu, Consumer Durables Group President, Koc Holding
(Arcelik's parent company):
"We are thrilled to announce the launch of Arcelik Hitachi Home Appliances
today. For the past couple of months, we have been working tirelessly and
diligently with the Hitachi GLS team to establish this joint venture, which is
a significant milestone in our Silk Road strategy. Arcelik Hitachi Home
Appliances provides both companies with an excellent opportunity to leverage
successes in the Asia-Pacific home appliances market that holds a growing
middle-class population, emerging retail channels, increasing household income
and developing lifestyles. The company will leverage both companies' robust
market position, global expertise, and Hitachi's brand heritage to deliver
global and local market needs."
Hakan Bulgurlu, CEO, Arcelik:
"We are delighted to launch our new joint venture with Hitachi GLS, Arcelik
Hitachi Home Appliances. This is a major step for us in achieving our global
expansion ambitions and goals to become one of the world's top home appliances
companies. The venture will have the chance to utilize complementary product
portfolio and operational footprints of Arcelik. In the next few years, we will
see Hitachi brand products covering full major domestic appliance need of
customers and growing both in existing markets and new ones (geographies) by
the support of Arcelik companies."
Keiji Kojima, President and COO, Hitachi, Ltd. (Hitachi GLS's parent company):
"We are delighted to establish today this new joint venture company with
Arcelik – a company who is recognized for its high-quality products and
excellent management efficiency. The Hitachi Group aims to contribute to
people's Quality of Life (QoL) through its Social Innovation Business, which
solves social issues. Our aim is to realize a sustainable society by focusing
on areas that promote the three values of ''Security and Safety,''
''Environment,'' and ''Resilience''. The home appliances business is
strategically important for the Hitachi Group, as it is the first point of
contact for our brand with people – especially while demand for connected home
appliances using digital technology is increasing. Through this collaboration
with Arcelik, we will provide safe and secure living through Hitachi-brand home
appliances to many more regions and contribute to improving people's QoL
globally."
Jun Taniguchi, President, Hitachi Global Life Solutions, Inc.:
"Today, we are pleased to introduce Arcelik Hitachi Home Appliances - our new
joint venture company with Arcelik. I am confident that by strengthening the
complementary sales networks and product strategies of both companies, Arcelik
Hitachi Home Appliances will gain a competitive edge and become a market leader
in the global home appliances market. In addition, by combining the distinctive
technologies of both companies, such as environmental resistance and digital
technology, we will contribute to improving the QoL of consumers and develop
products and services that will realize a sustainable society."
Zafer Ustuner, CEO, Arcelik Hitachi Home Appliances:
"Today marks a new and exciting journey for Arcelik Hitachi Home Appliances,
which is created to address the evolving needs for APAC market and tap into
their economic growth. This company brings together global strategies from both
businesses, obtains product synergies, and makes a targeted investment in brand
and promotion to accelerate growth across all geographies and fulfil its growth
potential. The company will also create strong efficiency gains through new
procurement and manufacturing synergies gained from the partnership.
Additionally, the new venture leverages Hitachi GLS's strong presence in APAC
and its high-end home appliances in the rapidly growing Asian market to make
the new venture a success. Our teams have been working extremely hard on this
strategic joint venture and are looking forward to seeing Arcelik Hitachi Home
Appliances grow and develop in the coming years."
About Arcelik Hitachi Home Appliances
Arcelik Hitachi Home Appliances was established on July 1st, 2021 as a joint
venture between Arcelik A.S. and Hitachi Global Life Solutions, Inc to
manufacture, sell and provide after-sales services of Hitachi branded home
appliances including refrigerators, washing machines, vacuum cleaners globally
(outside of the Japanese market). Arcelik acquired 60% ownership in the new
company while Hitachi Global Life Solutions, Inc. continues as a 40%
shareholder of the company. Through this joint venture, Arcelik AS and Hitachi
GLS, Inc. have combined their expertise in other key areas such as R&D,
procurement and production systems to optimize the joint venture's global
supply chain and strengthen its competitive positioning in the market.
https://www.arcelik-hitachi-homeappliances.com/
About Arcelik
Arcelik is a multinational household appliances manufacturer that operates with
12 brands (Arcelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure,
Flavel, Defy, Altus, Dawlance, Voltas Beko) and employs over 40,000 people
worldwide. Arcelik's global operations include sales and marketing offices in
46 countries, and 26 production facilities in 9 countries. As Europe's second
largest white goods company by market share (based on volumes), Arcelik reached
a consolidated turnover of 5 billion Euros in 2020. Arcelik's R&D and Design
Centers across the globe, are home to over 1,600 researchers and hold more than
3,000 international patent applications to date. Arcelik is named the "Industry
Leader" in the Durable Home Appliances category for the 2nd year in a row in
Dow Jones Sustainability Index 2020 and, in accordance with PAS 2060 Carbon
Neutrality Standard, became carbon-neutral in global production plants in 2019
and 2020 fiscal years with its carbon credits.
www.arcelikglobal.com
About Hitachi GLS
Headquartered in Tokyo, Japan, Hitachi Global Life Solutions, Inc., is a wholly
owned subsidiary of Hitachi, Ltd. And Hitachi GLS is responsible for sale of
(and provision of engineering and maintenance services for) home appliances,
air conditioning equipment and other equipment and devices; and provision of
products and solutions utilizing digital technologies. Based on the idea of
"More smiles to life for one and all. A more comfortable tomorrow for people
and society. With innovations that deliver happiness to the world, we open new
doors to the future.", we seek to gain a closer understanding of customer
lifestyles. By resolving individual customer lifestyle issues, through
well-designed and sophisticated products and services utilizing of the Hitachi
Group's value chain and digital technologies, we aspire to be a company that
contributes to improving the quality of life for customers around the world.
www.hitachi-gls.com/
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Logo - https://mma.prnewswire.com/media/1555649/Arcelik_and_Hitachi_Logo.jpg
Source: Arcelik Hitachi Home Appliances
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