PR99125

CAIRO, December 9, 2022 /PRNewswire=KYODO JBN/--

- Beko unveils new investment in an event attended by GAFI & senior government

officials

- Arcelik, the parent company of Beko, plans to make Egypt an export hub,

allocating 60% of its production to foreign markets

- The plant is projected to start manufacturing by Q4 2023, with an annual

capacity of 1.5 million household appliances, providing 2,000 direct job

opportunities for Egyptians

- The first phase will produce eco-friendly cookers & refrigerators

Beko Egypt for home appliances, a subsidiary of Arcelik, today celebrated

laying the foundation stone for its first factory in Egypt on the 10th of

Ramadan Industrial Zone, in the received land allocation with a total area of

114,000 m2.

The event was attended by Counselor Mohamed AbdelWahab, GAFI CEO, Minister

Plenipotentiary Mr. Mohamed ElSayed, Director of the European affairs & Turkey

Department at ECS, Mr. Mohamed Youssef, Head of Investment Promotion at GAFI,

and Dr. Ahlam Farouk, Head of the Central Administration for the Protection and

Improvement of Industrial Environment and Energy at Ministry of Environment, in

addition to H.E. Salih Mutlu Sen, Turkey's Ambassador to Egypt,  Mr. Fatih

Kemal Ebiclioglu, Koc Holding, Consumer Durables Group President, Hakan

Bulgurlu, Arcelik CEO and Umit Gunel, Beko Egypt General Manager and high-level

government officials.

The state-of-the-art manufacturing site is on the heels of fruitful discussions

between the Egyptian government and Arccelik, a global household appliances

manufacturer and a subsidiary of Koc Holding. Both parties had come together to

explore investment opportunities and means to increase local employment and

create value for local industries and communities.

The investment marks a significant milestone and is expected to boost the

regional economy by creating more than 2,000 jobs and transferring technical

know-how. In addition, the factory will develop local supplier ecosystems to

create sustainable value for all industries while supporting the government's

long-term strategy to drive industrial localization and establish Egypt as a

significant production and export hub to overseas markets.

Scheduled to begin operations by Q4 2023, the plant is projected to manufacture

an annual capacity of 1.5 million household appliances, more than 60% planned

for export to Europe, the Middle East & Africa as "Made in Egypt", with around

$250mn in annual export potential. The first phase of the investment will focus

on producing eco-friendly cookers and refrigerators

The "Zero Waste" factory will also support Egypt's vision 2030 for a green

economy and use cutting-edge technologies, including rooftop solar panels and

renewable energy, as it works towards meeting local market needs and supporting

government efforts to achieve its SDGs.

Counselor Mohamed Abdel Wahab, GAFI CEO, expressed his happiness at laying the

foundation stone for Beko Egypt factory stating "Today, Egypt is witnessing

radical changes that transfers it to the encyclopedia of the most attractive

countries for investment in various fields, with the participation of the

private sector. This comes in line with the country's economic roadmap and

within the framework of free market mechanisms and support for competition."  

"The government, with all its authorities, seeks to provide a supportive

environment for the performance of business in which transparency, governance

and the rule of law prevail, in addition to the keenness of the General

Investment Authority to provide all means of support for such projects from the

private sector and to address all the challenges it might face." He added

Minister Plenipotentiary Mohamed El-Sayed, Head of the European and Turkish

Relations Sector at the Commercial Representation Authority, stressed that

Turkish investments in Egypt are highly regarded, respected, and welcomed by

both the government and people as these investments represent important steps

in implementing Egypt's vision, stating, "We are very glad that Arcelik is a

new and important member joining the Turkish investment community in Egypt

bringing to the market a vital product sector which is home appliances. We

really look forward to seeing Beko tag made in Egypt very soon in the Egyptian

market as well as foreign markets."

For her part, Dr. Ahlam Farouk, Head of the Central Department of Improving the

Industrial Environment and Energy at the Ministry of Environment, expressed her

happiness to be present at this event that sees great interest in technology,

and reduction of environmental pollutants and harmful emissions, by bringing

together those calling for change to deploy environmentally friendly

technologies towards achieving the SDGs, highlighting that the Egyptian

Ministry of Environment seeks to improve the industrial environment by raising

energy efficiency and rationalization, reducing pollution rates, and increasing

public awareness of environmental aspects, in line with 2030 Sustainable

Development Goals.

Additionally, Koc Holding Consumer Durables Group President, Fatih Kemal

Ebiçlioglu stated "We strongly believe in Egypt's potential. The pace of growth

is promising, and Egypt plays a vital role in our strategy. We are confident

that this strategic investment will reinforce our long-standing commitment as

we are highly motivated to use our global expertise, scale, and knowledge to

make this investment a remarkable success. With Arcelik's sound vision and

vigorous sustainability drive, this investment, for sure, will be a model for

sustainable growth and advanced manufacturing."

Arcelik CEO Hakan Bulgurlu commented "With a growing population and thriving

economy, Egypt provides vast opportunities for the business community. We are

poised to combine our innovative manufacturing approach with the strategic

opportunities Egypt offers. As Europe's leading brand, Beko will replicate its

achievements in Egypt. Sustainability is incorporated as an essential strategy

in every facet of our business, from sourcing our materials to our product

design and recycling programs. We will also reflect on our sustainability

know-how, insights, and learnings in this new facility to quickly turn this

investment into an exemplary success story."

On his part, Beko Egypt General Manager Umit Gunel stated "Today, we are

witnessing a new milestone and opening a new gateway with the Beko factory in

Egypt. This journey is just the beginning. We are currently studying the

extension of the factory with new product categories. We also have another

investment project which we call a retail factory. We will open 250 new

showrooms and 50 service centers across Egypt and deliver world-class quality

to our customers. This project will add new employment opportunities and create

value for the Egyptian economy. We proudly received the market leadership

position in the dishwasher category this year, and we aim to continue our

leadership and work towards becoming the top 3 home appliances brands in Egypt."

About Koc Holding

As Arcelik's parent company, Koc Holding is Turkey's leading investment holding

company and the Koc Group is Turkey's largest industrial and services group in

terms of revenues, exports, number of employees, taxes paid, and market

capitalization on Borsa Istanbul. Being the only Turkish company to be ranked

in the Fortune Global 500 List and Forbes' World's Best Employers List, Koc

Holding has leading positions with strong competitive advantages in the energy,

automotive, consumer durables, and finance sectors.

About Arcelik

With 45,000 employees throughout the world, Arcelik's global operations include

subsidiaries in 53 countries, 30 production facilities in 9 countries, and 12

brands (Arcelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure,

Flavel, Defy, Altus, Dawlance, Voltas Beko). Arcelik, among the three largest

white goods companies in Europe with its market share (based on volumes),

reached a consolidated turnover of 6.5 billion Euros in 2021. Arcelik's 29 R&D

and Design Centers & Offices across the globe are home to over 2,300

researchers and hold up to 3,000 internationally registered patent applications

to date. In 2021, Arcelik achieved the highest score in the DHP Household

Durables category for the 3rd year in a row (based on the results dated

November 2021) in the Dow Jones Sustainability Index of the S&P Global

Corporate Sustainability Assessment. Through its leadership position in

sustainability and credible decarbonization roadmap for achieving net zero,

Arcelik became the first and only company from its industry to receive the

Terra Carta Seal by His Majesty King Charles III. Arcelik's vision is

'Respecting the World, Respected Worldwide.'

www.arcelikglobal.com　

About Beko

Beko is the international home appliance brand of Arcelik, a multinational

household appliances manufacturer with 12 brands and employs 45,000 people

worldwide. Beko is one of the top 3 large home appliances brands in Europe*.

The brand is the naming partner of the Fenerbahçe Men's Basketball Team and the

official supplier of European League of Legends Championship (LEC).

Beko Egypt is currently gaining a larger share of the Egyptian market with more

than 750 sales and 83 customer service centers. The company provides a wide

range of eco-friendly products, including ovens, refrigerators, washing

machines, dishwashers, hoods, and coffee machines.

Beko has been focusing on healthy living for years, raising awareness and

developing products that make healthy living possible and convenient. Beko's

brand mission is 'healthy living is only possible on a healthy planet'. Beko is

committed to protecting the planet by designing and manufacturing

energy-efficient products and investing in resource efficiency in production.

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Logo - https://mma.prnewswire.com/media/1820672/Beko_Logo.jpg

SOURCE: Arcelik and Beko