Arçelik company under the leading Turkish Conglomerate Ko ç Holding has broken ground for the construction of a refrigerator manufacturing plant in Thailand which is scheduled to operate by the end of 2015, the firm said on January 7.

Arçelik said the plant, built at a total cost of around 100 million USD, is expected to generate revenues of 500 million USD from selling more than 800,000 refrigerators in ASEAN within the first three years after completion.

The new plant in Thailand has great potential to become a production hub in the region under the brand name of Beko, said Koç Holding Chairman Mustafa V. Koç during the groundbreaking ceremony.

He added that with this brand name, Koç Holding has achieved large market shares in the leading competitive markets in Europe, including Germany, France and the UK.

Meanwhile Arçelik General Manager Levent Çakıroğlu highlighted that Beko brand has been sold in over 100 countries and become the home application brand recording the highest growth over the past six months, adding that it is the second largest brand in Europe.

Levent Çakıroğlu expected that Thailand will help Beko brand write another successful story in ASEAN as it has done in  Europe.

Arçelik company plans to exports 90 percent of the total output manufactured in Thailand to neibouring countries including the Philippines, Vietnam, Malaysia, and Singapore, and Australia.-VNA