Brief: Arcelik Says Estimated Investment In Italy Increased To Around EUR 300 Mln, With A Third Allocated To R&D

Arcelik

31/01/2025 05:40

Jan 31 (Reuters) - Arcelik AS  ARCLK.IS :
    * ARCELIK AS - GOAL TO POSITION ITALY AS A STRATEGIC HUB IN
FIELDS
OF INDUSTRIAL DESIGN AND COOKING APPLIANCES CONTINUES
    * ARCELIK AS - STRATEGIC IMPORTANCE OF PRODUCTION ACTIVITIES
IN
ITALY, PARTICULARLY IN BUILT-IN COOKING APPLIANCES AND
REFRIGERATION CATEGORIES WAS HIGHLIGHTED
    * ARCELIK AS - ESTIMATED INVESTMENT OF 110 MILLION EUR
ANNOUNCED
HAS BEEN REVISED AND EXPANDED IN TERMS OF BOTH SCOPE AND
DURATION
    * ARCELIK AS - APPROXIMATELY 300 MILLION EUR NOW ALLOCATED,
THIRD
OF WHICH WILL BE USED FOR RESEARCH AND DEVELOPMENT ACTIVITIES
    * ARCELIK AS -  FINAL AMOUNT IS CONSIDERED AS PART OF
OPERATIONAL
EXPENSES AND INVESTMENTS FOR BUSINESS CONTINUITY, INCLUDING
EXPENDITURES FOR NEXT FIVE YEARS
    * ARCELIK AS -  DISCUSSIONS ARE ONGOING WITH WITH AIM OF
EVALUATING LONG-TERM SUSTAINABLE TRANSFORMATION PLAN FOR OUR
ITALY OPERATIONS

Source text:  ID:nIKA9ZzTX0 
Further company coverage:  ARCLK.IS 

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