Arçelik reported a 13.8 percent rise in turnover in 2005, with total revenue for the year reaching U.S. $3.1 billion, according to the Turkish Daily News. Net profits were $187 million for the year, up 18 percent, the News said. The appliance company, based in Istanbul, Turkey, already has substantial market shares in Europe and plans to expand into China and America this year.
As APPLIANCE magazine reported in an exclusive interview with Nadir Yalçinalp, general manager of International Sales and Marketing for Arçelik A.S., Arçelik intends to be one of the top ten brand names of the world by the year 2010.
In 2005, the company made investments of $135 million, including the start-up of the first clothes dryer plant in Turkey. The company is investing $71 million in Russia alone, with a new refrigerator and washing machine plant in Kirzhach that is expected to employ 1,000 workers by the end of this year. A new freezer plant is operating in Romania.
Read the APPLIANCE interview with Nadir Yalçinalp:
Executive Corner: Extending a Global Reach.
Also read about APPLIANCE magazine's visit to the new Arçelik laundry facilities in Turkey:
Creating Value in Cayirova.
to Daily News