Arcelik Gets R&D Loan from European Commission
Dec 14, 2012
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Arcelik A.S. will get a loan of EUR 100 million from the European Investment Bank (EIB) to finance Arcelik R&D activities in support of energy efficiency and innovative technologies for new products.

Participated in the loan signature ceremony were Levent Cakiroglu, President of Koc Holding Durable Goods Group and CEO of Arcelik A.S.; Dr. Fatih Kemal Ebiclioglu, CFO of Arcelik A.S.; and Ismail Hakki Sagir, CTO of Arcelik A.S. The European Investment Bank was represented by Bruno Denis, Head of Division- Lending operations in Turkey, Alain Terraillon, Representative in Turkey and Massimo d'Eufemia, Managerial Advisor.

The EIB credit will finance Arcelik R&D projects in the fields of energy efficiency, advanced material technologies, internationally collaborative R&D projects, innovative product technologies, smart home technology, and environmentally friendly production processes, over the period of 2012-2015. The activities will mainly be carried out by the Central R&D department of Arcelik in Istanbul with the support and coordination of R&D departments in Arcelik production facilities as well as the R&D departments within the ODTU (METU - Middle East Technical University) Teknokent.

Levent Cakiroglu pointed out that the most important factors driving Arcelik's success are its R&D and innovation capabilities and said: "Arcelik has the ability to present products designed and manufactured by its own technology to the international markets thanks to the R&D activities carried out since the foundation of the R&D Center in 1991 and the technological competence that came along with them. We have developed value-added and world class products, which have pioneered our sector and increased the comfort of the customers in parallel with the global evolution in the world".

Cakiroglu focused on the importance technology and innovation that anticipates the demands of the market and customers. "To this end," he said, "we continue to focus on R&D and each year we have been increasing our investments in this field. The EIB loan allocated to Arcelik is a significant indicator of the confidence in our R&D and innovation projects that endorse the sustainable competitive edge of our company".

"We are particularly pleased to support Arcelik in its innovative and competitive strategy," said Pim van Ballekom, EIB Vice-President of operations in Turkey. "Boosting R&D is a priority for the EIB, and this is one of our first operations in support of private sector R&D in the country. Innovation is essential for Europe to help secure competitiveness in the context of global competition, safeguard jobs and achieve sustainable growth. Moreover, Arcelik's R&D program will further improve the environmental sustainability and quality of its product portfolio."

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