Denmark’s Caravell Group began the transfer of production of upright coolers and freezers out of its Danish plant in Aalestrup to a new factory in Turkey. Caravell has stopped uprights production in Denmark to begin moving machinery to Turkey, which is expected to begin producing upright models in January 2007. Chest freezer production will remain in Aalestrup.
This is one of the latest moves from Caravell since it was acquired in July by Metalfrio Solutions Ltda., a leading player in the commercial refrigeration business in Latin America and North America. Caravell has a strong presence in Europe and Russia, and the joining of the companies created a new entity with a global scope. Metalfrio acquired two key European companies in the acquisition—Caravell A/S and Derby A/S, and their respective brands.
The primary motivation for the acquisition is the increasing importance of economies of scale in the product sector. With the acquisition of Caravell, Metalfrio group’s total annual production will grow to more than 370,000 units, bringing competitive benefits to its factories in Brazil, Denmark, Russia, and Turkey. The Brazilian company intends to become one of the three largest global players in its core business. The newly formed group is expected to have a turnover of 200 million euros in 2006.
to Daily News