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...Turkish companies are also regaining access to international bond markets: home appliance maker Arçelik last week became the first non-financial corporate issuer to sell a dollar bond since January 2022,...
...The deal, in which Turkey-based Arçelik’s plans to take control of three-quarters of a joint venture combining its European business with that of US-based Whirlpool, would create a European white goods powerhouse...
...The Competition and Markets Authority said Arçelik’s proposed purchase of Whirlpool in Europe could cause “a substantial lessening of competition” and “higher prices or a reduction in choice or quality for...
...The EU competition authority has set a deadline of October 23 to make a ruling on the Arçelik-Whirlpool deal, according to a filing last week....
...Arçelik issued a $400mn dollar-denominated bond in September, making it the first Turkish non-financial company to sell a bond on international markets since January 2022....
...Hakan Bulgurlu, chief executive of Istanbul-based Arçelik, said in an interview with the Financial Times that the “huge capacity” of Chinese manufacturers was a major risk for rivals....
...Arçelik, one of Turkey’s leading industrial companies, for example purchased US-based Whirlpool’s Russian business for around €260mn last year....
...Walker said he was concerned by recent warnings by the head of Turkey’s Arçelik, owner of the consumer goods brand Beko, that China could dump white goods on international markets as its domestic economy...
...This is a daring stance. Neither Whirlpool nor Arcelik is Italian. But Whirlpool, which bought local appliance maker Indesit in 2014, has a big footprint in the country....
...Several Turkish companies have raised funding on international debt markets in recent weeks, including industrial firm Arçelik, which sold the first dollar-denominated bond from a non-financial Turkish company...
...The business world is fast becoming a sustainability-driven ecosystem and the gift for early movers will be survival. Hakan Bulgurlu Chief Executive, Arcelik Istanbul, Turkey...
...Fitch last month downgraded the debt rating of a string of corporates, including white goods maker Arçelik and the telecoms company Turkcell, because of their high exposure to the domestic market....
...Hakan Bulgurlu, chief executive of Arçelik, a Turkish appliances manufacturer, shared optimism on cost pressures easing after a near 25 per cent increase in polymer prices year-on-year in the first half...
...Koc’s brands include Tupras, which runs Turkey’s largest oil refinery, the white goods producer Arcelik (which trades as Beko in Europe), the bank Yapi Kredi and a joint venture with the auto giants Ford...
...Letter in response to this article: Businesses that cut emissions will enjoy early mover advantage / From Hakan Bulgurlu, Chief Executive, Arcelik, Istanbul, Turkey...
...Tech tools — Eco Beko Beko, the Turkish home appliance brand owned by Arcelik, introduced seven sustainable products today, including a washing machine/washer dryer, oven, tumble dryer, refrigerator, espresso...
...“The UK is the biggest export market for home appliances that are manufactured in Turkey,” said Hakan Bulgurlu, chief executive of Turkish manufacturer Arcelik, which trades under the name Beko in Europe...
...A trade buyer gleaning synergies might pay more. For sure Philips is not on a safe romp home....
...“I think in the end, if there is Brexit, the Turkey-UK relationship would get even closer due to what has gone on through this process,” said Mr Bulgurlu, the Arcelik chief....
...One part of the package was made up by tax holidays, including the temporary removal of a 6.7 per cent consumption tax, a move that helped companies such as Arcelik, which is a subsidiary of Koc group, Turkey...
...(Tupras), home appliances (Arcelik), hotels (the Divan chain), defence manufacturing and Yapi Kredi Bank....
...It has built up some highly competitive exporting companies such as Arcelik, which, under brand names such as Beko, has made substantial inroads into the European market for consumer goods....
...Meanwhile, Beko, a white-goods brand owned by Istanbul-based Arcelik, appeals to German consumers and distributors by offering cheaper products than its better-known German competitors such as Bosch....
...In Turkey, Mr Negyal likes manufacturers such as Arcelik, which exports white goods to developed world markets. In South Africa, he favours Bidvest, a supplier of food services to restaurants....
...But the UK remains a principal focus of activity, with Beko accounting for about a fifth of all Arcelik’s exports....
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