Arçelik Company Description
White goods keep the ledgers at Arçelik in the black. Operating five plants in Turkey and one in Romania, Arçelik has sold more than 75 million air conditioners, cooking appliances, dishwashers, refrigerators, vacuum cleaners, washing machines, water heaters, and other appliances in more than 100 countries. The company's Beko brand has a 14% market share for refrigerators in the UK while its Arctic refrigerator brand commands 45% of the Romanian market. Arçelik was founded in 1955 as Turkey's first manufacturer of refrigerators, washing machines, and water heaters by Vehbi Koç, who also founded Koç Holding in 1963. Koç Holdings, along with related entities, owns about 57% of Arçelik.
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The Company Description provides a historical perspective of Arçelik's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Arçelik's evolution in the marketplace.
