A household appliances manufacturing company from Turkey has signed an agreement to purchase Karachi-based Dawlance, a premium home appliances company in Pakistan. A deal of $258 million was signed for this purpose.
Arçelik will acquire Dawlance by the end of this year. It is a Turkish-based international company, with the presence in more than 100 countries. On the other hand, Dawlance is the number one home appliances company in Pakistan. In 2015, the company earned $221 million and EBITDA of $45 million.
With the purchase of this company in Pakistan, Arçelik will hire a total global staff of 30.000 and will have a worldwide production base of 18 manufacturing services. This investment will further enhance the Turkey-Pakistan economic attachment.
A lot of Turkish-based companies are already working in Pakistan. AlBayrak Holding, a company from Turkey, is cooperating in the transport sector of Pakistan. The company has manufactured the Metro buses and passenger buses for Lahore.
Since 1980, Dawlance Premium Home Appliances Company has been turning houses into homes with thoughtfully innovative household appliances. The legacy of Dawlance – that now stretches over more than three decades – started off with the production of Refrigerators.
Today, Dawlance – with reliability as its core value – provides cutting edge Washing Machines, Chest Freezers, largestVertical Freezers, Split AC & Microwave Ovens. Over the last 35 years, this company has not only developed the largest dealer network but also has establishment outstanding after-sales service across Pakistan.