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Turkey’s Arçelik acquires Pakistani Dawlance Group

by ChemOrbis Editorial Team -
  • 01/07/2016 (16:42)
According to media reports, Turkey’s household appliances manufacturer Arçelik A.S has acquired Pakistan’s white goods and home appliance maker Dawlance Group for $258 million. The acquisition is expected to be completed by the end of this year after Arçelik gets approval from the regulatory body, following the receipt and closing conditions as required.

The company reportedly cited favorable economic conditions as the main reason for the acquisition.

Dawlance has two manufacturing sites in Karachi and one in Hyderabad. Dawlance Group’s revenues hit $220.6 million in 2015.
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