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Turkey's Arcelik wraps up sale of washing machine factory in China

Nov 13, 2020, 12:00:00 AMArticle by Dragana Petrushevska
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ANKARA (Turkey), November 13 (SeeNews) - Turkish white goods manufacturer Arcelik [IST:ARCLK] said its China-based fully owned subsidiary  Beko Electrical Appliances has completed the sale of its washing machine factory in Changzhou city to local Jiangsu Konka Smart Home Appliances Co. Ltd. for 112.35 million Chinese yuan ($16.9 million/14.4 million euro).

Turkey's Arcelik wraps up sale of washing machine factory in China
Author: Flazingo Photos. License: Creative Commons, Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

The sale also included the right to use the land where the factory is located and the fixed assets within the facility, Arcelik said in a filing with the Istanbul bourse's public disclosure platform KAP earlier this week.

Beko Electrical Appliances signed the deal to sell the Changzhou-based washing machine factory to Jiangsu Konka in late September.

(1 euro = 7.8111 Chinese yuan)

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