London, United Kingdom
London, United Kingdom

Tata Group is an Indian Multinational conglomerate company headquartered in Mumbai, Maharashtra, India. It encompasses seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. Tata Group was founded in 1868 by Jamsetji Tata as a trading company. It has operations in more than 80 countries across six continents. Tata Group has over 100 operating companies with each of them operating independently. Out of them 32 are publicly listed. The major Tata companies are Tata Steel, Tata Motors, Tata Consultancy Services , Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan Industries, Tata Communications and Taj Hotels. The combined market capitalisation of all the 32 listed Tata companies was INR 8.4 Trillion as of July 2014. Tata receives more than 58% of its revenue from outside India.The Tata Group is owned primarily by various charitable trusts that maintain a majority stake in the holding company. The current chairman of the Tata group is Cyrus Pallonji Mistry, who took over from Ratan Tata in 2012. Tata Sons is the promoter of all key Tata companies and holds the bulk of shareholding in these companies. The chairman of Tata Sons has traditionally been the chairman of the Tata group. About 66% of the Equity of Tata Sons is held by philanthropic trusts endowed by members of the Tata family.The Tata Group and its companies & enterprises is perceived to be India's best-known global brand within and outside the country as per an ASSOCHAM survey. The 2009, annual survey by the Reputation Institute ranked Tata Group as the 11th most reputable company in the world. The survey included 600 global companies. The Tata Group has helped establish and finance numerous quality research, educational and cultural institutes in India. The group was awarded the Carnegie Medal of Philanthropy in 2007 in recognition of its long history of philanthropic activities. Wikipedia.


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News Article | May 16, 2017
Site: www.businessoffashion.com

BANGALORE, India — Flipkart Online Services Pvt. is nearing a final agreement to acquire rival e-commerce provider Snapdeal after winning support from the startup’s three primary venture investors, but the contract still needs backing from two of India’s most powerful businessmen, according to people familiar with the matter. SoftBank Group Corp., the largest shareholder in Snapdeal, has pushed for the deal and ultimately persuaded Nexus Venture Partners to agree to terms, said the people, asking not to be named because the matter is private. Kalaari Capital and the founders had earlier agreed to the merger, which calls for Snapdeal’s valuation to be reduced to about $1 billion from its previous $6.5 billion. The parties have reached a non-binding preliminary agreement that requires due diligence to be completed in a few weeks. Still, several important investors have yet to sign on to the deal, including the family offices of Azim Premji, the billionaire chairman of tech services giant Wipro Ltd., and Ratan Tata, the former chairman of the salt-to-software conglomerate Tata Group, the people said. It’s not clear how significant a hurdle that will be to a final deal. The Flipkart-Snapdeal combination is aimed at creating a stronger local competitor to battle Amazon.com Inc., the pioneering e-commerce provider that has become the fourth-most valuable company in the world. Founder Jeff Bezos has vowed to spend $5 billion in India to gain share as the market surges. He’s determined not to miss out like he did in China, where Alibaba Group Holding Ltd. — backed by none other than SoftBank — came to dominate the local market. Flipkart, Snapdeal and SoftBank all declined to comment. If due diligence goes smoothly, a term sheet specifying cash and stock for each shareholder will follow and a final agreement could be signed by mid- to late June, the people said. Under terms of the preliminary pact, Snapdeal’s two founders Kunal Bahl and Rohit Bansal will together receive about $30 million with a similar sum to be set aside for Snapdeal’s nearly 2,000 employees. Kalaari Capital, one of the two early investors in the startup, is to get $30 million, while Nexus will receive twice that amount for its larger stake, they said. Kalaari’s managing director Vani Kola, an early investor in Snapdeal, told Bloomberg that she has resigned from the startup’s board. Kola’s role as a board member with powers to veto any deal as well as an investor negotiating a return was viewed by some as conflict of interest. “I was done with what I needed to do,” Kola said, adding that she saw no conflict of interest. Not all small investors in Snapdeal are on board with the proposed Flipkart acquisition and some are dragging their feet, people familiar with the matter said. SoftBank founder Masayoshi Son has advocated for the deal as a win-win outcome for both local companies. The Japanese billionaire, whose company owns about a third of Snapdeal parent Jasper Infotech Pvt, could contribute that equity to the merged entity and infuse another $500 million to $1 billion in Flipkart through a transaction with Flipkart backer Tiger Global Management, the people said. That would give Flipkart more firepower to battle Amazon in one of the world’s fastest growing online retail markets. The Seattle-based company’s India chief Amit Agarwal has used the money from headquarters to develop technology and gain customers. Son financed a similar battle in China — and won billions. He was one of the earliest backers of Alibaba, the e-commerce player that first defeated eBay in China and then successfully fended off Amazon. That investment remains one of his most successful to date, giving him stock worth about $90 billion. Bangalore-based Flipkart said last month it had raised $1.4 billion from Tencent Holdings Ltd., Microsoft Corp. and EBay Inc. in what it said was the largest internet investment in India. Flipkart said the post-transaction valuation for the company was $11.6 billion. An alliance among Flipkart, Snapdeal and EBay could give the business customers, scale and technology, though it’s not clear how easily those could be integrated. “This is a landmark deal for Flipkart and for India,” the company’s co-founders Sachin Bansal and Binny Bansal said in a statement. “This deal reaffirms our resolve to hasten the transformation of commerce in India through technology.


The proposed new company, to be incorporated in India, will be an equal partnership. The JV will be incorporated between Ardutch B.V. (49%), wholly owned subsidiary of Arçelik, owner of Beko Brand, Koç 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 India. The Joint Venture Company (JVC), with an equity capital of $100 million, will leverage the Beko brand and its expertise in the major domestic appliance sector across the globe, as well as Voltas' strong brand presence and wide sales and distribution network in India. The JV is key to Beko's "Silk Road" business strategy, which seeks to create a continuous and strong presence in the corridor between Turkey and the Asia Pacific region. This move aims to tap into the Indian market which offers great potential with its approximately half billion middle-income consumers. The white goods market in India is expected to reach US$ 12 billion by 2027. 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. The JV demonstrates a joint vision of building a long-term sustainable durables business in India and Beko's ongoing focus on the Asian continent as the key driver in its strategic growth plans. Commenting on the partnership, Fatih Kemal Ebiçlioğlu, President of Consumer Durables Group of Koç Holding, said: "Given the accelerating shift of global economic power to Asia, this joint venture will be a critical step for Beko's growth in the region. India 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." Hakan Bulgurlu, CEO of Arçelik, said: "Our joint venture with Voltas and Tata Group demonstrates Beko's commitment to India and showcases Beko's "Silk Road" strategy, which seeks to capitalise on major growth opportunities in countries across the Asia Pacific. "India's 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. "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." Ishaat Hussain, Tata Sons Director and Chairman of Voltas Ltd., said: "Consumer Durables is a logical extension for Voltas, and we are delighted to be forming this Joint Venture with Arçelik, part of the Koç Group. The strong technology platform, combined with the global manufacturing and sourcing capabilities of Arçelik, will help the JVC offer many unique and differentiated products to the Indian market. The Voltas-Beko 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 India." Sanjay Johri, Managing Director of Voltas Ltd., 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 India. 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 India', 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." Today Arçelik A.Ş. offers products and services around the world with its 30,000 employees, 18 production facilities in 7 countries (Turkey, Romania, Russia, China, South Africa, Thailand and Pakistan), its 34 sales and marketing offices in 32 countries and its 11 brands (Arçelik, 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 Europe, the consolidated turnover of Arçelik A.Ş. was totalled at TRY 16.1 billion in 2016. Generating 60% of its income from global markets Arçelik A.Ş. owns 14 R&D centres, employing over 1,300 employees. Arçelik is listed in ISE (Borsa Istanbul) since 1986. Beko, the global brand of Arçelik A.Ş., has been the fastest growing home appliances brand of Europe since the millennium. Brand is the market leader in UK and Poland and the #1 freestanding white goods brand of Europe. Voltas Limited is a premier engineering solutions provider and project specialist. Founded in India 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 & treatment, cold chain solutions, building management systems, and indoor air quality. The Company is also the market leader in room air conditioners in India. Koç Holding, the parent company of Arçelik A.Ş., is the leading investment holding company in Turkey and Koç Group is Turkey's largest industrial and services group in terms of revenues, exports, taxes, number of employees and market capitalization on the Borsa İstanbul with over 95,000 people. Koç Holding 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, Koç Holding ranks among the world's top 500 companies according to Fortune 500 with consolidated sales of around US$ 23.5 billion as of year-end 2016. Koç Group has been a driving force of the Turkish economy with total sales corresponding 6% of Turkey's GDP, exports comprising 9% of Turkey's total exports and Koç Holding and its listed subsidiaries making up 20% of Borsa Istanbul's market capitalization. Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, 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'. Tata Sons is the principal investment holding company and promoter of various Tata companies, including Voltas.  Sixty-six percent of the equity share capital of Tata Sons 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 USD 103.51 billion. These companies collectively employ over 660,000 people. 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 USD 116.41 billion (as on March 31, 2016). 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.


News Article | May 25, 2017
Site: www.prnewswire.com

ESTAMBUL y BOMBAY, La India, May 25, 2017 /PRNewswire/ -- - Koç Holding y Tata Group firman una sociedad conjunta para aprovechar el mercado de consumo de productos de marca blanca de rápido crecimiento de la India La sociedad conjunta busca el liderazgo de mercado en 10 años...


News Article | May 29, 2017
Site: www.prlog.org

Koç Holding and Tata Group Companies sign joint venture to tap into India's rapidly growing white goods consumer market --, part of Koç Holding A.S.(Koç Holding), Turkey's largest industrials conglomerate, andLimited, part of the Tata Group, India's largest conglomerate, have announced a deal that will see Beko and Voltas, India's largest air conditioning brand, enter into a joint venture (JV) for consumer durables.The proposed new company, to be incorporated in India, will be an equal partnership. The JV will be incorporated between Ardutch B.V. (49%), wholly owned subsidiary of Arçelik, owner of Beko Brand, Koç 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 India.The Joint Venture Company (JVC), with an equity capital of $100 million, will leverage the Beko brand and its expertise in the major domestic appliance sector across the globe, as well as Voltas' strong brand presence and wide sales and distribution network in India.The JV is key to Beko's "Silk Road" business strategy, which seeks to create a continuous and strong presence in the corridor between Turkey and the Asia Pacific region. This move aims to tap into the Indian market which offers great potential with its approximately half billion middle-income consumers.  The white goods market in India is expected to reach US$ 12 billion by 2027.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.The JV demonstrates a joint vision of building a long-term sustainable durables business in India and Beko's ongoing focus on the Asian continent as the key driver in its strategic growth plans.Commenting on the partnership,said: "Given the accelerating shift of global economic power to Asia, this joint venturewill be a critical step for Beko's growth in the region. India 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.", said: "Our joint venture with Voltas and Tata Group demonstrates Beko's commitment to India and showcases Beko's "Silk Road" strategy, which seeks to capitalise on major growth opportunities in countries across the Asia Pacific."India's 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."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."said: "Consumer Durables is a logical extension for Voltas, and we are delighted to be forming this Joint Venture with Arçelik, part of the Koç Group. The strong technology platform, combined with the global manufacturing and sourcing capabilities of Arçelik, will help the JVC offer many unique and differentiated products to the Indian market. Thepartnership 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 India."., 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 India. 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 India', 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."


Dieses Joint Venture ist zentral in Bekos Geschäftsstrategie, die (in Anlehnung an die historische Seidenstraße) eine starke Präsenz entlang dem Korridor zwischen der Türkei und der Region Asien-Pazifik zu schaffen sucht. Mit dem Joint Venture soll der indische Markt mit seinem enormen Potenzial von etwa einer halben Milliarde Konsumenten in der mittleren Einkommensklasse erschlossen werden. Es wird erwartet, dass der indische Markt für Weißware bis 2017 einen Umfang von 12 Milliarden US-Dollar erreicht. Mit dieser neuen Greenfield-Investition erhoffen sich die Partner die Marktführung im Bereich Weißware. Die neue Fertigungsanlage soll Ende 2018 in Produktion gehen. Das Joint Venture wird außerdem große Haushaltsgeräte vertreiben, die in mehreren Beko-Werken in verschiedenen Ländern weltweit hergestellt werden. Fatih Kemal Ebiçlioğlu, President, Consumer Durables Group von Koç Holding, kommentiert: "In Anbetracht der rapide zunehmenden Verschiebung weltweiter wirtschaftlicher Macht nach Asien ist dieses Joint Venture ein kritischer Schritt für das Wachstum von Beko in der Region. Indien zeichnet sich als wichtige Gelegenheit ab, denn das Land hat mit seiner Bevölkerung von 1,3 Milliarden Menschen ein enormes Potenzial. Allein in den letzten zehn Jahren ist der indische Markt für große Haushaltsgeräte um 9 Prozent gewachsen. Das ist weit mehr als das weltweite Wachstum des Weißwarenmarkts von 3 Prozent. Dieses Joint Venture ist ein strategischer Schritt zur Verbesserung unseres Wettbewerbsvorteils weltweit." Die rapide expandierende Mittelklasse in Indien ist eine ausgezeichnete Geschäftsgelegenheit für uns. Viele dieser jungen Menschen zieht es in die Städte, und sie kaufen zum ersten Mal Weißwaren. Das Wachstumspotenzial in diesem Markt ist enorm, und Tata Group ist ein ausgezeichneter Partner für diese weitgesteckte neue Partnerschaft. Ishaat Hussain, Direktor bei Tata Sons und Vorstandschef von Voltas Ltd., sagt: "Langlebige Konsumgüter sind eine logische Erweiterung für Voltas. Daher sind wir hocherfreut über dieses Joint Venture mit Arçelik, das zur Koç Group gehört. Mithilfe einer ausgezeichneten Technologieplattform und den weltweiten Fertigungs- und Beschaffungskapazitäten von Arçelik wird dieses Joint Venture in der Lage sein, viele einzigartige und differenzierte Produkte auf dem indischen Markt anzubieten. Die Partnerschaft zwischen Voltas und Beko wird sich außerdem die allseits bekannte Marke und Vertriebsstärke von Voltas zunutze machen, sodass wir unser Joint Venture zum Marktführer für dauerhafte Konsumgüter in Indien entwickeln können." Sanjay Johri, Hauptgeschäftsführer von Voltas Ltd., fügt hinzu: "Aufgrund unserer langjährigen Erfahrung, unseres einzigartigen Verständnisses der Kunden in Indien sowie unserer Marken- und Vertriebsstärke haben wir bereits eine marktführende Position im Bereich Raumklimaanlagen in Indien erlangt. Mithilfe der Kernkompetenz von Volta kombiniert mit den Fertigungskapazitäten und dem umfassenden Produktangebot von Beko werden wir eine Führungsposition auf dem Markt für dauerhafte Konsumgüter in diesem Land erringen können. Die Verbraucher in Indien standen von Anfang an im Mittelpunkt unserer Pläne, und die Erweiterung unseres Produktportfolios durch dieses Joint Venture wird auch in diesem Fall unseren Kunden speziell für Indien gefertigte Produkte anbieten, die spezifisch auf ihre Bedürfnisse zugeschnitten sind. Wir arbeiten weiterhin auf unser Ziel des nachhaltigen, rentablen Wachstums hin, und mit diesem Joint Venture können wir unseren Kunden wie auch unseren Aktionären einen Mehrwert bieten." Heute ist Arçelik ein weltweites Hersteller- und Dienstleistungsunternehmen mit mehr als 30.000 Mitarbeitern und 18 Fertigungsstätten in 7 Ländern (der Türkei, Rumänien, Russland, China, Südafrika, Thailand und Pakistan) sowie 34 Vertriebs- und Marketingbüros in 32 Ländern. Das Unternehmen ist in 145 Ländern tätig und besitzt 11 Marken (Arçelik, Beko, Grundig, Blomberg, elektrabregenz, Arctic, Leisure, Flavel, Defy, Altus und Dawlance). Arçelik ist im Bereich Haushaltsgeräte das drittgrößte Unternehmen in Europa. Der Kernumsatz von Arçelik A.Ş. betrug insgesamt 16,1 Milliarden TRY im Jahr 2016. Arçelik A.Ş. bezieht 60 % seiner Einnahmen aus globalen Märkten und besitzt 14 F&E-Zentren mit 1.300 Mitarbeitern. Arçelik wird seit 1986 an der ISE (Borsa Istanbul) gehandelt. Beko, die globale Marke von Arçelik A.Ş., ist seit der Jahrtausendwende die am schnellsten expandierende Haushaltsgerätemarke in Europa. Sie ist marktführend im Vereinigten Königreich und Polen sowie die führende Marke für freistehende Haushaltsgeräte in Europa. Voltas Limited ist ein führender Projektspezialist und Anbieter von Engineering-Lösungen. Voltas Limited wurde 1954 in Indien gegründet und gehört zur Tata Group. Das Unternehmen bietet Engineering-Lösungen für ein breites Branchenspektrum in den Bereichen Heizung, Lüftung und Klimatisierung, Kühlung, elektromechanische Projekte, Textilmaschinenbau, Bergbau- und Baumaschinen, Wasserwirtschaft und -aufbereitung, Kühlkettenlösungen, Gebäudeautomation und Raumluftqualität. Das Unternehmen ist außerdem der Marktführer für Raumklimaanlagen in Indien. Koç Holding, die Muttergesellschaft von Arçelik A.Ş., ist die führende Investment-Holdinggesellschaft in der Türkei und Koç Group ist die größte industrielle und Dienstleistungsgruppe in der Türkei in Bezug auf Umsatz, Exporte, Steuern, Mitarbeiterzahl und Börsenwert an der Borsa İstanbul mit mehr als 95.000 Menschen. Koç Holding hat Führungspositionen mit ausgezeichneten Wettbewerbsvorteilen in mehreren Sektoren inne, wie z. B. Energie, Automobilindustrie, dauerhafte Konsumgüter und Finanzen - durchweg Bereiche mit hervorragendem langfristigem Wachstumspotenzial. Mit einer durchschnittlichen jährlichen Wachstumsrate von 11 % in Konzerngewinnen in USD zwischen 2006 und 2016 gehört Koç Holding laut Fortune 500 zu den Top 500 Unternehmen der Welt. Der Gesamtumsatz des Konzerns lag zum Jahresende 2016 bei etwa 23,5 Milliarden US-Dollar. Die Koç Group ist eine treibende Kraft in der türkischen Wirtschaft mit einem Gesamtumsatz, der 6 % des Bruttosozialprodukts der Türkei ausmacht, einem Anteil von 9 % an allen Exporten der Türkei, und Koç Holding sowie seine an der Börse gehandelten Tochtergesellschaften machen 20 % des Börsenwerts an der Börse von Istanbul aus. Das Unternehmen wurde 1868 von Jamsetji Tata gegründet, ist weltweit vertreten und hat seinen Hauptsitz in Indien. Es umfasst mehr als 100 unabhängige Betriebsgesellschaften. Die Gruppe ist in über 100 Ländern auf sechs Kontinenten tätig. Ihre Mission lautet: 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust' (Verbesserung der Lebensqualität in den Gemeinden, die wir weltweit bedienen, durch langfristige Wertschöpfung für alle Beteiligten und vertrauenswürdige Führung). Tata Sons ist die hauptsächliche Investment-Holdinggesellschaft und Finanzierungsvermittler für verschiedene Unternehmen der Tata Group, einschließlich Voltas. 66 % des Stammaktienkapitals von Tata Sons befinden sich in philanthropischen Treuhandfonds, die Bildung, Gesundheit, Lebensunterhalt sowie Kunst und Kultur unterstützen. Der Umsatz aller Unternehmen der Tata-Gruppe betrug 2015-2016 insgesamt 103,51 Milliarden USD. Zusammen beschäftigen diese Unternehmen mehr als 660.000 Mitarbeiter.


The proposed new company, to be incorporated in India, will be an equal partnership. The JV will be incorporated between Ardutch B.V. (49%), wholly owned subsidiary of Arçelik, owner of Beko Brand, Koç 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 India. The Joint Venture Company (JVC), with an equity capital of $100 million, will leverage the Beko brand and its expertise in the major domestic appliance sector across the globe, as well as Voltas' strong brand presence and wide sales and distribution network in India. The JV is key to Beko's "Silk Road" business strategy, which seeks to create a continuous and strong presence in the corridor between Turkey and the Asia Pacific region. This move aims to tap into the Indian market which offers great potential with its approximately half billion middle-income consumers. The white goods market in India is expected to reach US$ 12 billion by 2027. 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. The JV demonstrates a joint vision of building a long-term sustainable durables business in India and Beko's ongoing focus on the Asian continent as the key driver in its strategic growth plans. Commenting on the partnership, Fatih Kemal Ebiçlioğlu, President of Consumer Durables Group of Koç Holding, said: "Given the accelerating shift of global economic power to Asia, this joint venture will be a critical step for Beko's growth in the region. India 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." Hakan Bulgurlu, CEO of Arçelik, said: "Our joint venture with Voltas and Tata Group demonstrates Beko's commitment to India and showcases Beko's "Silk Road" strategy, which seeks to capitalise on major growth opportunities in countries across the Asia Pacific. "India's 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. "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." Ishaat Hussain, Tata Sons Director and Chairman of Voltas Ltd., said: "Consumer Durables is a logical extension for Voltas, and we are delighted to be forming this Joint Venture with Arçelik, part of the Koç Group. The strong technology platform, combined with the global manufacturing and sourcing capabilities of Arçelik, will help the JVC offer many unique and differentiated products to the Indian market. The Voltas-Beko 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 India." Sanjay Johri, Managing Director of Voltas Ltd., 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 India. 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 India', 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." Today Arçelik A.Ş. offers products and services around the world with its 30,000 employees, 18 production facilities in 7 countries (Turkey, Romania, Russia, China, South Africa, Thailand and Pakistan), its 34 sales and marketing offices in 32 countries and its 11 brands (Arçelik, 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 Europe, the consolidated turnover of Arçelik A.Ş. was totalled at TRY 16.1 billion in 2016. Generating 60% of its income from global markets Arçelik A.Ş. owns 14 R&D centres, employing over 1,300 employees. Arçelik is listed in ISE (Borsa Istanbul) since 1986. Beko, the global brand of Arçelik A.Ş., has been the fastest growing home appliances brand of Europe since the millennium. Brand is the market leader in UK and Poland and the #1 freestanding white goods brand of Europe. Voltas Limited is a premier engineering solutions provider and project specialist. Founded in India 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 & treatment, cold chain solutions, building management systems, and indoor air quality. The Company is also the market leader in room air conditioners in India. Koç Holding, the parent company of Arçelik A.Ş., is the leading investment holding company in Turkey and Koç Group is Turkey's largest industrial and services group in terms of revenues, exports, taxes, number of employees and market capitalization on the Borsa İstanbul with over 95,000 people. Koç Holding 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, Koç Holding ranks among the world's top 500 companies according to Fortune 500 with consolidated sales of around US$ 23.5 billion as of year-end 2016. Koç Group has been a driving force of the Turkish economy with total sales corresponding 6% of Turkey's GDP, exports comprising 9% of Turkey's total exports and Koç Holding and its listed subsidiaries making up 20% of Borsa Istanbul's market capitalization. Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, 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'. Tata Sons is the principal investment holding company and promoter of various Tata companies, including Voltas.  Sixty-six percent of the equity share capital of Tata Sons 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 USD 103.51 billion. These companies collectively employ over 660,000 people. 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 USD 116.41 billion (as on March 31, 2016). 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.


Beko, part of Koc Holding A.S. (Koc Holding), Turkey's largest industrials conglomerate, and Voltas Limited, part of the Tata Group, India's largest conglomerate, have announced a deal that will see Beko and Voltas, India's largest air conditioning brand, enter into a joint venture (JV) for consumer durables. The proposed new company, to be incorporated in India, will be an equal partnership. The JV will be incorporated between Ardutch B.V. (49%), wholly owned subsidiary of Arçelik, owner of Beko Brand, Koç 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 India. The Joint Venture Company (JVC), with an equity capital of $100 million, will leverage the Beko brand and its expertise in the major domestic appliance sector across the globe, as well as Voltas' strong brand presence and wide sales and distribution network in India. The JV is key to Beko's "Silk Road" business strategy, which seeks to create a continuous and strong presence in the corridor between Turkey and the Asia Pacific region. This move aims to tap into the Indian market which offers great potential with its approximately half billion middle-income consumers. The white goods market in India is expected to reach US$ 12 billion by 2027. 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. The JV demonstrates a joint vision of building a long-term sustainable durables business in India and Beko's ongoing focus on the Asian continent as the key driver in its strategic growth plans. Commenting on the partnership, Fatih Kemal Ebiclioglu, President of Consumer Durables Group of Koc Holding, said: "Given the accelerating shift of global economic power to Asia, this joint venture will be a critical step for Beko's growth in the region. India 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." Hakan Bulgurlu, CEO of Arcelik, said: "Our joint venture with Voltas and Tata Group demonstrates Beko's commitment to India and showcases Beko's "Silk Road" strategy, which seeks to capitalise on major growth opportunities in countries across the Asia Pacific. "India's 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. "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." Ishaat Hussain, Tata Sons Director and Chairman of Voltas Ltd., said: "Consumer Durables is a logical extension for Voltas, and we are delighted to be forming this Joint Venture with Arcelik, part of the Koç 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 Voltas-Beko 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 India." Sanjay Johri, Managing Director of Voltas Ltd., 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 India. 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 India', 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." Today Arcelik A.S. offers products and services around the world with its 30,000 employees, 18 production facilities in 7 countries (Turkey, Romania, Russia, China, South Africa, Thailand and Pakistan), 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 Europe, 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&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 Europe since the millennium. Brand is the market leader in UK and Poland and the #1 freestanding white goods brand of Europe. Voltas Limited is a premier engineering solutions provider and project specialist. Founded in India 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 & treatment, cold chain solutions, building management systems, and indoor air quality. The Company is also the market leader in room air conditioners in India. Koç Holding, the parent company of Arcelik A.S., is the leading investment holding company in Turkey and Koç Group is Turkey's largest industrial and services group in terms of revenues, exports, taxes, number of employees and market capitalization on the Borsa İstanbul with over 95,000 people. Koc Holding 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, Koç Holding ranks among the world's top 500 companies according to Fortune 500 with consolidated sales of around US$ 23.5 billion as of year-end 2016. Koç Group has been a driving force of the Turkish economy with total sales corresponding 6% of Turkey's GDP, exports comprising 9% of Turkey's total exports and Koc Holding and its listed subsidiaries making up 20% of Borsa Istanbul's market capitalization. Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, 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'. Tata Sons is the principal investment holding company and promoter of various Tata companies, including Voltas.  Sixty-six percent of the equity share capital of Tata Sons 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 USD 103.51 billion. These companies collectively employ over 660,000 people. 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 USD 116.41 billion (as on March 31, 2016). 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.


News Article | April 17, 2017
Site: www.prnewswire.co.uk

Welcoming the ruling, Mr. F.N. Subedar, Chief Operating Officer of Tata Sons, said: "We are pleased that Mr. Mistry's claims have been dismissed by the NCLT. The order of the NCLT represents a vindication of our position. "We hope this brings to an end a vexatious campaign against the Company, the Tata Trusts and Mr. Ratan N. Tata. Tata Sons will continue its focus on its future development under the stewardship of our Executive Chairman, Mr. N. Chandrasekaran." Tata Sons interprets the ruling by the NCLT as demonstrating that the petitioners failed to make a convincing or compelling case that warranted a hearing on alleged mismanagement, oppression or other actions. The NCLT ruling of April 17, 2017, is the fifth such ruling by the company law tribunals rejecting reliefs requested by the Shapoorji Pallonji Group companies and Mr. Cyrus Mistry. "Mr. Mistry has made many ill-advised and groundless allegations intended to besmirch the name of the Tata Group," said Mr. Subedar. "Today's ruling by the NCLT makes clear that there is no case to be heard. Over the past six months, Mr. Mistry has failed demonstrably to build a case. We trust that the NCLT's decision brings this matter to a close," he added.


News Article | April 18, 2017
Site: phys.org

The software giant said net profit for the three months to March 31 rose to 66.08 billion rupees ($1.02 billion) from 63.40 billion rupees for the same period last year. It was the first quarterly earnings reported under its new chief executive Rajesh Gopinathan, who was appointed in February this year after Tata Group ousted former chairman Cyrus Mistry amid a legal tussle. On Monday, TCS had approved a 160 billion rupee ($2.4 billion) share repurchase to improve returns for share holders, Bloomberg reported. The buyback had a direct impact as TCS' shares jumped 6.1 percent on Mumbai's stock exchanges. "2016-17 was a year of broad-based growth amid economic and political turbulence in our key markets. We added USD 1.4 billion in constant currency revenues during the year," Gopinathan said in a statement. The company's digital business grew 29 percent annually to US$3 billion, he added. TCS shares had fallen by nearly a percent in the closing hours of trade. A Bloomberg survey of analysts had forecast the Mumbai-based company to increase its earnings to 66.54 billion rupees. India has become a back office to the world as companies largely in developed nations have subcontracted work to firms like TCS, taking advantage of the country's skilled English-speaking workforce. The flagship industry has made India a top business destination by offering software development and information technology, engineering and design and other services. TCS competitor Infosys released its fourth quarter results to subdued growth last week.


News Article | April 17, 2017
Site: www.prnewswire.com

Welcoming the ruling, Mr. F.N. Subedar, Chief Operating Officer of Tata Sons, said: "We are pleased that Mr. Mistry's claims have been dismissed by the NCLT. The order of the NCLT represents a vindication of our position. "We hope this brings to an end a vexatious campaign against the Company, the Tata Trusts and Mr. Ratan N. Tata. Tata Sons will continue its focus on its future development under the stewardship of our Executive Chairman, Mr. N. Chandrasekaran." Tata Sons interprets the ruling by the NCLT as demonstrating that the petitioners failed to make a convincing or compelling case that warranted a hearing on alleged mismanagement, oppression or other actions. The NCLT ruling of April 17, 2017, is the fifth such ruling by the company law tribunals rejecting reliefs requested by the Shapoorji Pallonji Group companies and Mr. Cyrus Mistry. "Mr. Mistry has made many ill-advised and groundless allegations intended to besmirch the name of the Tata Group," said Mr. Subedar. "Today's ruling by the NCLT makes clear that there is no case to be heard. Over the past six months, Mr. Mistry has failed demonstrably to build a case. We trust that the NCLT's decision brings this matter to a close," he added. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nclt-dismisses-petition-against-tata-sons-by-shapoorji-pallonji-group-companies-300440203.html

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