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Beko unveils its new investment at an event attended by FATF and senior government officials
CAIRO, Dec. 14, 2022 /PRNewswire/ -- Beko, a subsidiary of Arçelik, today celebrated the laying of the foundation stone for its first factory in Egypt, at 10 Ramadan Industrial Zone, on a plot of land with a total area of 114,000 m2.
The event was attended by Counselor Mohamed AbdelWahab, CEO of FATF; Minister Plenipotentiary Mohamed ElSayed, Director of the ECS Department of European and Turkish Affairs; Mohamed Youssef, FATF Head of Investment Promotion, and Dr. Ahlam Farouk, Head of the Central Administration for the Protection and Improvement of the Industrial Environment and Energy of the Ministry of Environment, as well as H. E. Salih Mutlu Şen, Ambassador of Turkey in Egypt; Fatih Kemal Ebiçlioğlu, Koç Holding, President of the Consumer Durables Group; Hakan Bulgurlu, CEO of Arçelik and Ümit Günel, CEO of Beko Egypt and high-level government officials.
The modern manufacturing plant will be a reality following fruitful talks between the Egyptian government and Arçelik, a global manufacturer of home appliances and a subsidiary of Koç Holding. Both parties had come together to explore investment opportunities and ways to increase local employment and create value for local industries and communities.
The investment marks an important milestone and is expected to boost the regional economy by creating more than 2,000 jobs and transferring know-how. In addition, the factory will develop ecosystems of local suppliers to create sustainable value for all industries, while supporting the government's long-term strategy to boost industrial localization and establish Egypt as a major production and export hub to overseas markets. .
The plant is scheduled to start operating in the fourth quarter of 2023 and will manufacture an annual capacity of 1.5 million household appliances, more than 60% of which will be exported to Europe, the Middle East and Africa as "Made in Egypt". , with an annual export potential of about 250 million dollars. The first phase of the investment will focus on the production of efficient and sustainable kitchens and refrigerators.
The factory, which will be zero waste in all its processes, will also support Egypt's 2030 goals for a green economy and will use cutting-edge technologies, including rooftop solar panels and renewable energy, to meet local market needs and support local markets. government efforts to achieve its SDGs.
Counselor Mohamed Abdel Wahab, CEO of FATF, expressed his joy at the laying of the first stone of the Beko factory in Egypt, stating: "Currently, Egypt is witnessing changes that make it one of the most attractive countries for investment in various fields with the participation of the private sector.This is in line with the country's economic roadmap and within the framework of free market mechanisms and support for competition.The government, with all its authorities, tries to to provide an environment conducive to conducting business in which transparency, governance and the rule of law prevail, in addition to the willingness of the General Investment Authority to provide all means of support to these private sector projects and face all the challenges that may arise."
Minister Plenipotentiary Mohamed El-Sayed, Head of the European and Turkish Relations Sector of the Trade Representation Authority, stressed that Turkish investments in Egypt are highly appreciated, respected and welcomed by both the government and the people, as they these investments represent important steps in Egypt, stating: "We are very pleased that Arçelik is a new and important member joining the Turkish investment community in Egypt by bringing to the market a vital product sector that is home appliances. We really look forward to see very soon the Beko "Made in Egypt" label, both in the Egyptian market and in foreign markets."
For her part, Dr. Ahlam Farouk, Head of the Central Department for the Improvement of the Industrial Environment and Energy of the Ministry of the Environment, expressed her joy at being present at this event and stated that she feels great interest in this technological commitment from Beko. and for its role in reducing environmental pollutants and harmful emissions. He also appealed to those calling for change to develop environmentally friendly technologies to meet the SDGs, noting that the Egyptian Ministry of the Environment seeks to improve the industrial environment by increasing energy efficiency, reducing pollution rates and increasing public awareness of environmental aspects, in line with the 2030 Sustainable Development Goals.
Furthermore, the Chairman of Koç Holding Consumer Durables Group, Fatih Kemal Ebiçlioğlu stated: "We strongly believe in Egypt's potential. Its growth rate is promising and Egypt plays a vital role in our strategy. We are confident that this strategic investment will strengthen our lasting commitment, as we are highly motivated to use our global experience, scale and insights to make this investment a remarkable success.With Arçelik's strong vision and strong drive for sustainability, this investment will undoubtedly be a model of sustainable growth and advanced manufacturing".
Arçelik CEO Hakan Bulgurlu commented: "With a growing population and a prosperous economy, Egypt offers great opportunities for the business community. We are prepared to combine our innovative manufacturing approach with the strategic opportunities that Egypt offers. As a leading brand in Europe, Beko will repeat its achievements in Egypt.Sustainability is embedded as a core strategy in all facets of our business, from sourcing our materials to the design of our products and their recycling.We will also reflect our knowledge, insights and learning on sustainability in this new facility to turn this investment into an exemplary success story."
For his part, the CEO of Beko Egypt, Ümit Günel commented: "Today, we witness a new milestone and open a new door with the Beko factory in Egypt. This journey is only the beginning. We are currently studying the expansion of the factory with new categories of products.We also push forward another investment project which we call retail factory.We will open 250 new showrooms and 50 service centers all over Egypt and offer superior quality to our customers.This project will provide new job opportunities and will create value for the Egyptian economy. This year we have been proudly awarded the market leader position in the dishwasher category, and we aim to continue our leadership and work towards becoming one of the top 3 home appliance brands in Egypt."
Koç Holding at Acerca
As the parent company of Arçelik, Koç Holding is Turkey's largest investment holding company and Koç Group is Turkey's largest industrial and service group in terms of revenue, exports, number of employees, taxes paid and market capitalization on the Istanbul Stock Exchange . Koç Holding is the only Turkish company listed on the Fortune Global 500 and Forbes World's Best Employers lists, occupying leadership positions with strong competitive advantages in the energy, automotive, consumer durables and financial sectors.
Acerca de Arcelik
With 45,000 employees worldwide, Arçelik's global operations include subsidiaries in 53 countries, 30 production facilities in 9 countries and 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko). Arçelik, which is among the three largest home appliance companies in Europe based on market share (based on volumes), achieved a consolidated turnover of €6.5 billion in 2021. Arçelik's 29 R&D and design centers and offices in worldwide are home to more than 2,300 researchers and have up to 3,000 international patent applications filed to date. In 2021, Arçelik scored highest in the durable household goods category for the third year in a row (based on November 2021 results) in the Dow Jones Sustainability Index of the Global Assessment of Corporate Sustainability of S
www.arcelikglobal.com
Acerca de Beko
Beko is the international home appliance brand of Arçelik, a multinational home appliance manufacturer with 12 brands and 45,000 employees worldwide. Beko is one of the top three brands of home appliances in Europe*. The brand is a sponsor of the Fenerbahçe men's basketball team and the official supplier of the League of Legends European Championship (LEC).
Beko Egypt is gaining a larger market share in the country, with more than 750 points of sale and 83 customer service centers. The company offers a wide range of efficient and sustainable products, such as ovens, refrigerators, washing machines, dishwashers, extractor hoods and coffee makers.
Beko has been focusing on healthy living for years, raising awareness and developing products that make healthy living possible and easier. The mission of the Beko brand is "a healthy life is only possible on a healthy planet". Beko is committed to protecting the planet by designing and manufacturing energy efficient products and investing in the sustainability of production resources.
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