When, in full swing, the assembly line would see packing of one refrigerator, in every 15 seconds. “Voltbek Home Appliances (Voltas Beko), Indian air-conditioning behemoth Voltas’ JV with Turkey-based consumer durables manufacturer Arçelik, is readying to pump in roughly Rs 1,284 crore to its new home appliances factory in Sanand, Gujarat, and for its forward integration. It has currently invested Rs 700 crore on the Sanand facility, counting on commanding 10% market share each in refrigerators, washing machines, dishwashers and microwave ovens, within five years.
“Although Voltas Group is fully capable of going about this project on our own, we roped in the European company Arçelik as a JV partner, because of the cutting-edge technology and R&D that Arçelik represents,” Noel Tata, chairman, Voltas, told FE. “For us, it was also crucial that the two firms matched in ethical values,” he said, at the factory’s inaugural ceremony.
The home appliances plant at Sanand, with its thrust on robotics and IoT (Internet of Things) , also claims to be India’s first-longest continuous assembly line for refrigerators. Currently, the factory employs about 500 people. When, in full swing, the assembly line would see packing of one refrigerator, in every 15 seconds. “We use our own patented technology in our appliances and in the number of applications for international patents, we are on a par with technology giants like Microsoft,” says Hakan Bulgurlu, CEO, Arçelik.
Arcelik, controlled by Koc Holdings that figures in Fortune Global 500 dossier, runs over 15 home appliances production plants, across the globe, under several brands including Arcelik and Beko. In Voltas Beko JV, Voltas and Arcelik hold 49% equity each, with their parent companies, Tata Group and Koc Holding, pitching in 1% each.
Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
