Voltas Beko launches its first manufacturing facility in India
Voltbek Home Appliances, a joint venture of Voltas and Arcelik, a consumer durables player in Europe, announced on Thursday about the opening of its first manufacturing facility in India. Situated in Sanand (Gujarat), the site factory will manufacture home appliances which will include refrigerators and washing machines, thus creating an Original Equipment Manufacturer (OEM) base for home appliances in the region.
With this new facility, the brand aims to increase its product portfolio and develop new innovative products specifically designed for Indian consumers. The factory will primarily cater to the needs of the Indian market by leveraging Voltas brand and its distribution strength.
Voltas Beko will produce Direct Cool Refrigerators which are around 80 per cent of the refrigerator market by volume. The facility aims to reach its annual production capacity of 2.5 million units by 2025.
Voltas Limited is an air conditioning and engineering company, engaged in room air conditioners, contract revenue, commercial refrigeration products and sale of services. The company has a presence in India, Middle East, among others.
On Thursday, the stock closed at Rs 696, down by 1.67 per cent or Rs 11.80 per share. The 52-week high is recorded at Rs 731.05 and the 52-week low is Rs 501.65 on BSE.