Koc Holding has recently transferred its Beko shares to Arcelik.
The Koc Group opened a Beko LLC plant for refrigerators, washing machines and televisions in Russia last week. Investing 90 million euros in this plant, Koc is increasing its share in the market daily.
Arcelik General Director Ozdemir said they were aiming for a turnover of six billion euros and were trying to make Beko into one of the world’s top ten brand marks in its sector by 2010.
“With our brand Beko, we will reach a market share of two percent in the worldwide durable consumption goods sector and proceed towards our vision with strong steps,” Ozdemir said.
The market share of the world’s biggest brand was 5.6 percent, said Ozdemir, and added that Beko’s share last year was 1.4 percent but they could increase this figure to 1.7 percent by the end of the year.
Turkey’s three electronics companies reached a controlling position of 51 percent in the European market as a result of recent opportunities in Europe. Ozdemir said Beko Electronics was among these three companies.
Another point Ozdemir mentioned was the merger of Beko and Arcelik: “Two separate plants, two separate storehouses, two different accounting systems, two different sales and marketing visions; this was the case until now. We have done something we should already have realized.” Arcelik’s turnover will increase after the merger, said Ozdemir. “Several companies declared losses due to the different May-June rates. Beko Electronics is currently in the red but Beko’s contribution to Arcelik will be a turnover of $1 billion at least. Arcelik’s target was $3.5 billion; I think we will make it $3.6 billion this year.” Following the merger, Beko Electronics’ legal personality will continue and the short term program will be made by Arcelik.