Voltas, country's leading residential air-conditioner maker, is set to sign a joint venture (JV) with Turkish white goods maker- Arcelik. It plans to introduce its own refrigerators, washing machines and microwave ovens after forming a joint venture with Arcelik for technology transfer, product development and manufacturing.
Both the companies have completed the market feasibility study but not decoded on the ownership structure of the proposed joint venture. Arcelik is owned by the 3.63-billion Turkish conglomerate KOC Group and owns 10 popular durable brands such as Beko, Grundig, Altus and Arcelik. The group owns some 7% share in the European appliances retail market.
