Koc Holding and Tata Group Companies Sign Joint Venture to Tap Into India's Rapidly Growing White Goods Consumer Market

Author
SySAdmin
Posted
May 24, 2017
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768

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Page 1
<HTML>
<HEAD>
<META http-equiv="Content-Type" content="text/html; charset=UTF-8">
<meta content="text/html; charset=utf-8" http-equiv="Content-Type">
<style type="text/css">
          .xn-newslines .xn-distributor{
          display:none;
          }
          .xn-newslines .xn-dateline{
          display:none;
          }
         
      /* /\/\/\/\/\/\/\/\/ CLIENT-SPECIFIC STYLES /\/\/\/\/\/\/\/\/ */
        #outlook a{padding: 0;} /* Force Outlook to provide a "view in browser" message */
        .ReadMsgBody{width: 100%;} .ExternalClass{width: 100%;} /* Force Hotmail to display emails at full width */
        .ExternalClass, .ExternalClass p, .ExternalClass span, .ExternalClass font, .ExternalClass td, .ExternalClass div {line-height: 100%;} /* Force Hotmail to display normal line spacing */
        body, table, td, p, a, li, blockquote{-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%;} /* Prevent WebKit and Windows mobile changing default text sizes */
        table, td{mso-table-lspace: 0pt; mso-table-rspace: 0pt;} /* Remove spacing between tables in Outlook 2007 and up */
        img{-ms-interpolation-mode: bicubic;} /* Allow smoother rendering of resized image in Internet Explorer */

        /* /\/\/\/\/\/\/\/\/ RESET STYLES /\/\/\/\/\/\/\/\/ */
        body{margin: 0; padding: 0;}
        img{border: 0; height: auto; line-height: 100%; outline: none; text-decoration: none;}
        table{border-collapse: collapse !important;}
        body, #bodyTable, #bodyCell{height: 100% !important; margin: 0; padding: 0; width: 100% !important;}

        /* /\/\/\/\/\/\/\/\/ TEMPLATE STYLES /\/\/\/\/\/\/\/\/ */

        /* ========== Page Styles ========== */

        #bodyCell{padding: 20px;}
        #templateContainer{
            width: 600px;
            background-color: #ffffff;
        }

            /**
            * @tip Set the background color and top border for your email. You may want to choose colors that match your company's branding.
            * @theme page
            */
            body, #bodyTable{
                background-color: #DEE0E2;
            }

            /**
            * @tip Set the background color and top border for your email. You may want to choose colors that match your company's branding.
            * @theme page
            */
            #bodyCell{
                border-top: 4px solid #BBBBBB;
            }

            /**
            * @tip Set the border for your email.
            */
            #templateContainer{
                border: 1px solid #BBBBBB;
            }

            /**
            * @tip Set the styling for all first-level headings in your emails. These should be the largest of your headings.
            * @style heading 1
            */
            h1{
                color: #404040 !important;
                display: block;
                font-family: Helvetica;
                font-size: 26px;
                font-style: normal;
                font-weight: bold;
                line-height: 100%;
                letter-spacing: normal;
                margin-top: 0;
                margin-right: 0;
                margin-bottom: 10px;
                margin-left: 0;
                text-align: left;
            }

            /**
            * @tip Set the styling for all second-level headings in your emails.
            * @style heading 2
            */
            h2{
                color: #404040 !important;
                display: block;
                font-family: Helvetica;
                font-size: 20px;
                font-style: normal;
                font-weight: bold;
                line-height: 100%;
                letter-spacing: normal;
                margin-top: 0;
                margin-right: 0;
                margin-bottom: 10px;
                margin-left: 0;
                text-align: left;
            }

            /**
            * @tip Set the styling for all third-level headings in your emails.
            * @style heading 3
            */
            h3{
                color: #3d98c6 !important;
                display: block;
                font-family: Helvetica;
                font-size: 16px;
                font-weight: normal;
                line-height: 100%;
                letter-spacing: normal;
                margin-top: 0;
                margin-right: 0;
                margin-bottom: 10px;
                margin-left: 0;
                text-align: left;
            }

            /**
            * @tip Set the styling for all fourth-level headings in your emails. These should be the smallest of your headings.
            * @style heading 4
            */
            h4{
                color: #808080 !important;
                display: block;
                font-family: Helvetica;
                font-size: 14px;
                font-weight: normal;
                line-height: 100%;
                letter-spacing: normal;
                margin-top: 0;
                margin-right: 0;
                margin-bottom: 10px;
                margin-left: 0;
                text-align: left;
            }

            h4.subtitle {
              color: #808080 !important;
              font-size: 14px;
            }

            /* ========== Header Styles ========== */

            /**
            * @tip Set the background color and bottom border for your email's preheader area.
            * @theme header
            */
            #templatePreheader{
                background-color: #F4F4F4;
                border-bottom: 1px solid #CCCCCC;
            }

            /**
            * @tip Set the styling for your email's preheader text. Choose a size and color that is easy to read.
            */
            .preheaderContent{
                color: #808080;
                font-family: Helvetica;
                font-size: 10px;
                line-height: 125%;
                text-align: left;
            }

            /**
            * @tip Set the styling for your email's preheader links. Choose a color that helps them stand out from your text.
            */
            .preheaderContent a:link, .preheaderContent a:visited, /* Yahoo! Mail Override */ .preheaderContent a .yshortcuts /* Yahoo! Mail Override */{
                color: #606060;
                font-weight: normal;
                text-decoration: underline;
            }

            /**
            * @tip Set the background color and borders for your email's header area.
            * @theme header
            */
            #templateHeader{
                background-color: #F4F4F4;
                border-top: 1px solid #FFFFFF;
                border-bottom: 1px solid #CCCCCC;
            }

            /**
            * @tip Set the styling for your email's header text. Choose a size and color that is easy to read.
            */
            .headerContent{
                color: #505050;
                font-family: Helvetica;
                font-size: 20px;
                font-weight: bold;
                line-height: 100%;
                padding-top: 0;
                padding-right: 0;
                padding-bottom: 0;
                padding-left: 0;
                text-align: left;
                vertical-align: middle;
            }

            /**
            * @tip Set the styling for your email's header links. Choose a color that helps them stand out from your text.
            */
            .headerContent a:link, .headerContent a:visited, /* Yahoo! Mail Override */ .headerContent a .yshortcuts /* Yahoo! Mail Override */{
                color: #3d98c6;
                font-weight: normal;
                text-decoration: underline;
            }

            #headerImage{
                height: auto;
                max-width: 600px;
            }

            #socialShare img {
                margin-right: 3px;
            }

            /* ========== Body Styles ========== */

            /**
            * @tip Set the background color and borders for your email's body area.
            */
            #templateBody{
                background-color: #FFFFFF;
                border-top: 1px solid #FFFFFF;
                /*border-bottom: 1px solid #CCCCCC;*/
            }

            /**
            * @tip Set the styling for your email's main content text. Choose a size and color that is easy to read.
            * @theme main
            */
            .bodyContent{
                color: #505050;
                font-family: Helvetica;
                font-size: 16px;
                line-height: 150%;
                padding-top: 20px;
                padding-right: 20px;
                padding-bottom: 20px;
                padding-left: 20px;
                text-align: left;
            }

            /**
            * @tip Set the styling for your email's main content links. Choose a color that helps them stand out from your text.
            */
            .bodyContent a:link, .bodyContent a:visited, /* Yahoo! Mail Override */ .bodyContent a .yshortcuts /* Yahoo! Mail Override */{
                color: #3d98c6;
                font-weight: normal;
                text-decoration: underline;
            }

            .bodyContent img{
                display: inline;
                height: auto;
                max-width: 560px;
            }

            /**
            * @tip Set the background color and border for your email's data table.
            */
            .templateDataTable{
                background-color: #FFFFFF;
            }

            .templateDataTable a:link {
                text-decoration: none;
                color: #3d98c6;
            }

            /**
            * @tip Set the styling for your email's data table text. Choose a size and color that is easy to read.
            */
            .dataTableHeading{
                /*background-color: #E7F1FC;*/
                color: #336699;
                font-family: Helvetica;
                font-size: 14px;
                font-weight: bold;
                line-height: 150%;
                text-align: left;
            }

            /**
            * @tip Set the styling for your email's data table links. Choose a color that helps them stand out from your text.
            */
            .dataTableHeading a:link, .dataTableHeading a:visited, /* Yahoo! Mail Override */ .dataTableHeading a .yshortcuts /* Yahoo! Mail Override */{
                color: #FFFFFF;
                font-weight: bold;
            }

            /**
            * @tip Set the styling for your email's data table text. Choose a size and color that is easy to read.
            */
            .dataTableContent{
                border-top: 1px solid #DDDDDD;
                border-bottom: 0;
                color: #404040;
                font-family: Helvetica;
                font-size: 12px;
                line-height: 150%;
                text-align: left;
            }

            /**
            * @tip Set the styling for your email's data table links. Choose a color that helps them stand out from your text.
            */
            .dataTableContent a:link, .dataTableContent a:visited, /* Yahoo! Mail Override */ .dataTableContent a .yshortcuts /* Yahoo! Mail Override */{
                color: #3d98c6;
                font-weight: bold;
            }

            /* ========== Column Styles ========== */

            .templateColumnContainer{width: 200px;}

            /**
            * @tip Set the background color and borders for your email's column area.
            */
            #templateColumns{
                background-color: #F4F4F4;
                border-top: 1px solid #FFFFFF;
                border-bottom: 1px solid #CCCCCC;
            }

            /**
            * @tip Set the styling for your email's left column content text. Choose a size and color that is easy to read.
            */
            .leftColumnContent{
                color: #505050;
                font-family: Helvetica;
                font-size: 14px;
                line-height: 150%;
                padding-top: 0;
                padding-right: 20px;
                padding-bottom: 20px;
                padding-left: 20px;
                text-align: left;
            }

            /**
            * @tip Set the styling for your email's left column content links. Choose a color that helps them stand out from your text.
            */
            .leftColumnContent a:link, .leftColumnContent a:visited, /* Yahoo! Mail Override */ .leftColumnContent a .yshortcuts /* Yahoo! Mail Override */{
                color: #3d98c6;
                font-weight: normal;
                text-decoration: underline;
            }

            /**
            * @tip Set the styling for your email's center column content text. Choose a size and color that is easy to read.
            */
            .centerColumnContent{
                color: #505050;
                font-family: Helvetica;
                font-size: 14px;
                line-height: 150%;
                padding-top: 0;
                padding-right: 20px;
                padding-bottom: 20px;
                padding-left: 20px;
                text-align: left;
            }

            /**
            * @tip Set the styling for your email's center column content links. Choose a color that helps them stand out from your text.
            */
            .centerColumnContent a:link, .centerColumnContent a:visited, /* Yahoo! Mail Override */ .centerColumnContent a .yshortcuts /* Yahoo! Mail Override */{
                color: #3d98c6;
                font-weight: normal;
                text-decoration: underline;
            }

            /**
            * @tip Set the styling for your email's right column content text. Choose a size and color that is easy to read.
            */
            .rightColumnContent{
                color: #505050;
                font-family: Helvetica;
                font-size: 14px;
                line-height: 150%;
                padding-top: 0;
                padding-right: 20px;
                padding-bottom: 20px;
                padding-left: 20px;
                text-align: left;
            }

            /**
            * @tip Set the styling for your email's right column content links. Choose a color that helps them stand out from your text.
            */
            .rightColumnContent a:link, .rightColumnContent a:visited, /* Yahoo! Mail Override */ .rightColumnContent a .yshortcuts /* Yahoo! Mail Override */{
                color: #3d98c6;
                font-weight: normal;
                text-decoration: underline;
            }

            .leftColumnContent img, .rightColumnContent img{
                display: inline;
                height: auto;
                max-width: 260px;
            }

            /* ========== Footer Styles ========== */

            /**
            * @tip Set the background color and borders for your email's footer area.
            * @theme footer
            */
            #templateFooter{
                background-color: #F4F4F4;
                border-top: 1px solid #FFFFFF;
            }

            /**
            * @tip Set the styling for your email's footer text. Choose a size and color that is easy to read.
            * @theme footer
            */
            .footerContent{
                color: #808080;
                font-family: Helvetica;
                font-size: 10px;
                line-height: 150%;
                padding-top: 20px;
                padding-right: 20px;
                padding-bottom: 20px;
                padding-left: 20px;
                text-align: left;
            }

            .footerContent.social, .footerContent.social h4 {
                text-align: center;
            }

            .footerContent.social a {
                margin: 0 10px;
            }

            /**
            * @tip Set the styling for your email's footer links. Choose a color that helps them stand out from your text.
            */
            .footerContent a:link, .footerContent a:visited, /* Yahoo! Mail Override */ .footerContent a .yshortcuts, .footerContent a span /* Yahoo! Mail Override */{
                color: #606060;
                font-weight: normal;
                text-decoration: underline;
            }

            /* /\/\/\/\/\/\/\/\/ MOBILE STYLES /\/\/\/\/\/\/\/\/ */

            @media only screen and (max-width: 480px){
                /* /\/\/\/\/\/\/ CLIENT-SPECIFIC MOBILE STYLES /\/\/\/\/\/\/ */
                body, table, td, p, a, li, blockquote{-webkit-text-size-adjust: none !important;} /* Prevent Webkit platforms from changing default text sizes */
                body{width: 100% !important; min-width: 100% !important;} /* Prevent iOS Mail from adding padding to the body */

                /* /\/\/\/\/\/\/ MOBILE RESET STYLES /\/\/\/\/\/\/ */
                #bodyCell{padding: 10px !important;}

                /* /\/\/\/\/\/\/ MOBILE TEMPLATE STYLES /\/\/\/\/\/\/ */

                /* ======== Page Styles ======== */

                /**
                * @tip Make the template fluid for portrait or landscape view adaptability. If a fluid layout doesn't work for you, set the width to 300px instead.
                */
                #templateContainer{
                    max-width: 600px !important;
                    width: 100% !important;
                }

                /**
                * @tip Make the first-level headings larger in size for better readability on small screens.
                */
                h1{
                    font-size: 24px !important;
                    line-height: 100% !important;
                }

                /**
                * @tip Make the second-level headings larger in size for better readability on small screens.
                */
                h2{
                    font-size: 20px !important;
                    line-height: 100% !important;
                }

                /**
                * @tip Make the third-level headings larger in size for better readability on small screens.
                */
                h3{
                    font-size: 18px !important;
                    line-height: 100% !important;
                }

                /**
                * @tip Make the fourth-level headings larger in size for better readability on small screens.
                */
                h4{
                    font-size: 16px !important;
                    line-height: 100% !important;
                }

                /* ======== Header Styles ======== */

                #templatePreheader{display: none !important;} /* Hide the template preheader to save space */

                /**
                * @tip Make the main header image fluid for portrait or landscape view adaptability, and set the image's original width as the max-width. If a fluid setting doesn't work, set the image width to half its original size instead.
                */
                #headerImage{
                    height: auto !important;
                    max-width: 600px !important;
                    width: 100% !important;
                }

                /**
                * @tip Make the header content text larger in size for better readability on small screens. We recommend a font size of at least 16px.
                */
                .headerContent{
                    font-size: 20px !important;
                    line-height: 125% !important;
                }

                /* ======== Body Styles ======== */

                /**
                * @tip Make the body content text larger in size for better readability on small screens. We recommend a font size of at least 16px.
                */
                .bodyContent{
                    font-size: 18px !important;
                    line-height: 125% !important;
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                .templateDataTableContainer {
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<h1 class="xn-hedline">Koc Holding and Tata Group Companies Sign Joint Venture to Tap Into India's Rapidly Growing White Goods Consumer Market</h1>

<p class="xn-distributor">PR Newswire</p>

<p class="xn-dateline">ISTANBUL and MUMBAI, India, May 24, 2017</p>
</div>

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<p>
<span class="xn-location">ISTANBUL</span> and <span class="xn-location">MUMBAI, India</span>, <span class="xn-chron">May 24, 2017</span> /PRNewswire/ -- </p>

<p class="prntac">
<b>The JV targets market leadership in 10 years</b> &nbsp;</p>

<p>
<b>Beko</b>, part of <span class="xn-person">Koc Holding A.S</span>. (<span class="xn-person">Koc Holding</span>), <span class="xn-location">Turkey's</span> largest industrials conglomerate, and <b>Voltas</b> Limited, part of the Tata Group, <span class="xn-location">India's</span> largest conglomerate, have announced a deal that will see Beko and Voltas, <span class="xn-location">India's</span> largest air conditioning brand, enter into a joint venture (JV) for consumer durables.</p>

<p>The proposed new company, to be incorporated in <span class="xn-location">India</span>, will be an equal partnership. The JV will be incorporated between Ardutch B.V. (49%), wholly owned subsidiary of Ar&ccedil;elik, owner of Beko Brand, Ko&ccedil; Holding (1%), Voltas (49 %), and Tata Investment Corporation Limited (1%). The partnership, once regulatory approval is received, will launch refrigerators, washing machines, microwaves and other white goods and major domestic appliances for the fast-growing consumer durables market in <span class="xn-location">India</span>.</p>

<p>The Joint Venture Company (JVC), with an equity capital of <span class="xn-money">$100 million</span>, will leverage the Beko brand and its expertise in the major domestic appliance sector across the globe, as well as Voltas' strong brand presence and wide sales and distribution network in <span class="xn-location">India</span>.</p>

<p>The JV is key to Beko's "Silk Road" business strategy, which seeks to create a continuous and strong presence in the corridor between <span class="xn-location">Turkey</span> and the <span class="xn-location">Asia Pacific</span> region. This move aims to tap into the Indian market which offers great potential with its approximately half billion middle-income consumers. The white goods market in <span class="xn-location">India</span> is expected to reach <span class="xn-money">US$ 12 billion</span> by 2027.</p>

<p>With the new greenfield investment, the JV looks to achieve a market leadership position in white goods. The new production facility is aimed to be operational by the end of 2018. The JVC will also sell major domestic appliances produced in various facilities of Beko around the world.</p>

<p>The JV demonstrates a joint vision of building a long-term sustainable durables business in <span class="xn-location">India</span> and Beko's ongoing focus on the Asian continent as the key driver in its strategic growth plans.</p>

<p>Commenting on the partnership, <b>Fatih</b> <b>Kemal</b> <b>Ebiclioglu, President of Consumer Durables Group of <span class="xn-person">Koc Holding</span>,</b> said: "Given the accelerating shift of global economic power to <span class="xn-location">Asia</span>, this joint venture will be a critical step for Beko's growth in the region. <span class="xn-location">India</span> stands out as an important opportunity window as it offers a great potential with its 1.3 billion population. In the last ten years alone, the Indian major domestic appliances market grew by nearly 9 percent, surpassing the overall 3 percent growth of global white goods market. With this joint venture, we make a strategic move to increase our global competitive advantage."</p>

<p>
<b><span class="xn-person">Hakan Bul</span></b><b>gurlu, CEO of Arcelik</b>, said: "Our joint venture with Voltas and Tata Group demonstrates Beko's commitment to <span class="xn-location">India</span> and showcases Beko's "Silk Road" strategy, which seeks to capitalise on major growth opportunities in countries across the <span class="xn-location">Asia Pacific</span>.</p>

<p>"<span class="xn-location">India's</span> rapidly expanding new middle class presents a major opportunity for our business. This young, urbanizing population includes many first-time buyers investing in white goods. The potential for growth in this market is incredibly exciting and we are proud to be partnering with the Tata Group to deliver this ambitious new partnership.</p>

<p>"By combining our global manufacturing expertise and innovation capabilities with Voltas' expertise, we're confident the company will deliver economic growth and act as a platform for our continued business success going forward."</p>

<p>
<b>Ishaat Hussain, Tata Sons Director</b>&nbsp;<b>and Chairman of Voltas Ltd</b><b>.</b><b>,</b> said: "Consumer Durables is a logical extension for Voltas, and we are delighted to be forming this Joint Venture with Arcelik, part of the Ko&ccedil; Group. The strong technology platform, combined with the global manufacturing and sourcing capabilities of Arcelik, will help the JVC offer many unique and differentiated products to the Indian market. The <b>Voltas-Beko</b> partnership will also leverage the well-known brand and distribution strengths of Voltas, and we will work towards establishing the joint venture as a market leader for consumer durables in <span class="xn-location">India</span>."</p>

<p>
<b><span class="xn-person">Sanjay Johri</span>, Managing</b> <b>Director of Voltas Ltd</b>., added: "Our long history, and our unique understanding of Indian customers combined with our brand and distribution strengths, has helped us become market leaders in room air-conditioners in <span class="xn-location">India</span>. Voltas' core competence, and the manufacturing capabilities and wide product range of Beko will help us become a leading player in the consumer durables market in the country. The Indian consumer has always been at the forefront of all our plans, and the expansion in our product portfolio, through this foray, will as always, provide our customers products 'made for <span class="xn-location">India</span>', which specifically cater to their needs. We remain committed to our goals of sustainable profitable growth, and this Joint Venture will create enhanced value for our customers and shareholders."</p>

<p>
<b>Note to Editors</b>&nbsp;</p>

<p>
<b>About</b> <b>Arcelik</b><b> &amp; Beko</b>&nbsp;</p>

<p>Today Arcelik A.S. offers products and services around the world with its 30,000 employees, 18 production facilities in 7 countries (<span class="xn-location">Turkey</span>, <span class="xn-location">Romania</span>, <span class="xn-location">Russia</span>, <span class="xn-location">China</span>, <span class="xn-location">South Africa</span>, <span class="xn-location">Thailand</span> and <span class="xn-location">Pakistan</span>), its 34 sales and marketing offices in 32 countries and its 11 brands (Arcelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus and Dawlance) serving products and services in 145 countries. As the third largest home appliances company in <span class="xn-location">Europe</span>, the consolidated turnover of Arcelik A.S. was totalled at TRY 16.1 billion in 2016. Generating 60% of its income from global markets Arcelik A.S. owns 14 R&amp;D centres, employing over 1,300 employees. Arcelik is listed in ISE (Borsa Istanbul) since 1986. Beko, the global brand of Arcelik A.S., has been the fastest growing home appliances brand of <span class="xn-location">Europe</span> since the millennium. Brand is the market leader in UK and <span class="xn-location">Poland</span> and the #1 freestanding white goods brand of <span class="xn-location">Europe</span>.</p>

<p>
<b>About Voltas</b>&nbsp;</p>

<p>Voltas Limited is a premier engineering solutions provider and project specialist. Founded in <span class="xn-location">India</span> in 1954, Voltas Limited is part of the Tata Group, and offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, water management &amp; treatment, cold chain solutions, building management systems, and indoor air quality. The Company is also the market leader in room air conditioners in <span class="xn-location">India</span>.</p>

<p>
<b>About Koc</b> <b>Holding</b>&nbsp;</p>

<p>Ko&ccedil; Holding, the parent company of Arcelik A.S., is the leading investment holding company in <span class="xn-location">Turkey</span> and Ko&ccedil; Group is <span class="xn-location">Turkey's</span> largest industrial and services group in terms of revenues, exports, taxes, number of employees and market capitalization on the Borsa Ä°stanbul with over 95,000 people. <span class="xn-person">Koc Holding</span> has leading positions with strong competitive advantages in various sectors, such as energy, automotive, consumer durables and finance, which offer strong long-term growth potential. Following an average annual growth rate of 11% in consolidated profit in USD terms between 2006 and 2016, Ko&ccedil; Holding ranks among the world's top 500 companies according to Fortune 500 with consolidated sales of around <span class="xn-money">US$ 23.5 billion</span> as of year-end 2016. Ko&ccedil; Group has been a driving force of the Turkish economy with total sales corresponding 6% of <span class="xn-location">Turkey's</span> GDP, exports comprising 9% of <span class="xn-location">Turkey's</span> total exports and <span class="xn-person">Koc Holding</span> and its listed subsidiaries making up 20% of Borsa Istanbul's market capitalization.</p>

<p>
<b>About Tata Group</b>&nbsp;</p>

<p>Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in <span class="xn-location">India</span>, comprising over 100 independent operating companies. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'. <span class="xn-person">Tata Sons</span> is the principal investment holding company and promoter of various Tata companies, including Voltas. &nbsp;Sixty-six percent of the equity share capital of <span class="xn-person">Tata Sons</span> is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2015-16, the revenue of Tata companies, taken together, was <span class="xn-money">USD 103.51 billion</span>. These companies collectively employ over 660,000 people.</p>

<p>Each Tata company or enterprise operates independently under the guidance and supervision of its own Board of Directors. There are 29 publicly-listed Tata enterprises with a combined market capitalization of about <span class="xn-money">USD 116.41 billion</span> (as on <span class="xn-chron">March 31, 2016</span>). Going forward, Tata companies are building multinational businesses that seek to differentiate themselves through customer-centricity, innovation, entrepreneurship, trustworthiness and values-driven business operations, while balancing the interests of diverse stakeholders including shareholders, employees and society.</p>

<p>SOURCE  Beko</p>

</div>

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<p>CONTACT: Mehin Oner, mehin.oner@arcelik.com, +90-212-314-36-45. <br>
</p>

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