Arçelik and Hitachi has signed a shared purchase agreement to establish a new joint-venture company. As part of the transaction, Hitachi Global Life Solutions (GLS) will create a new company into which it will transfer its global home appliances business outside of Japan. Arçelik will acquare 60% ownership in the new company, which both partners aim to establish in the Spring 2021, subject to regulatory approvals and satisfaction of other customary conditions.
«Hitachi SLS – commented Hakan Bulgurlo, CEO of Arcelik – has a strong presence in Southest Asia, offers high-end home appliances in the rapidly growing Asian market and is a strong strategic fit for Arçelik in terms of geography, brand and products. This historic joint-venture with Hitachi GLS serves as a major step in our ambitious global expansion and journey to become one of the world top home appliances companies. This joint-venture significantly advances Arçelik and Hitachi global strategies and has solid future growth prospects as it will benefit from synergies realized by the joining forces of two well-established players.» 
Arçelik and Hitachi plan to build a competitive value chain leveraging the complementarity of both company’s strategies and create growth opportunities that will increse their access to new markets, enhance their product ranges and sales capabilities, while delivering increased competitiveness across supply chian and production operation. The joint-venture will manufacture, sale and provide after sales services of Hitachi branded home appliances (including refrigerators, washing machines, vacuum cleaners…) globally outside the Japan market. It encompasses twelve Hitachi group companies outside Japan (two manufacturing companies and ten sales ones).
«I am delighted – said Jun Taniguchi, President of Hitachi Global Life Solutions – to have agreed the establishment of a joint-venture company with Arcelik. Our strategic partnership enhances the complementary relationship we have in our sales networks and product strategy. Leveraging the strenghts of both companies, we will increase the competitiveness of our home appliances business in the Global market. And throught the advanced technologies of both companies, we will also strive to develop product and services that will meet the needs of thew consumers and contribute to peoples’ QoL.»
