Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Arcelik and Grundig to Merge
Mar 4, 2009
 Printable format
 Email this Article
 Search

Turkish appliance maker Arcelik and its television-manufacturing unit Grundig Elektronik will merge in order to increase overall competitiveness. Both companies are part of the Koc Holding Group.

Arcelik also announced that it was also raising its capital to 649.9 million lira (approx. US$419,572) in a rights issue. It also said it was selling shares in finance company Koc Finansal Hizmetleri to other Koc group companies for 250 million lira ($161,306).

"The company decided to take a series of restructuring to increase its weight in the sector and benefit from the new opportunities in the best way possible," Arcelik said in a statement.

Separately, Arcelik said that its 4Q 2008 net loss was 95.4 million lira ($61 million), an increase of 519%. However, it reported a full-year net profit of 39.8 million lira ($25 million), and said that revenues rose 2% in 2008.

Back to Daily News

 

Daily News

...........................................................

Apr 22, 2014: Final Rule Establishes Refrigerator Testing

Apr 22, 2014: A Third of Homes Worldwide Could Have Networks by 2018

Apr 22, 2014: Appliance Category Industrial Output Up 2% in March

Apr 21, 2014: Final Commercial Refrigeration Rule Published

Apr 21, 2014: Elam Offers Android-Enabled Kitchen Interface

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows