ISTANBUL May 3 A partnership of Turkish
white-goods maker Arcelik and LG Klima will produce
commercial air conditioners with the LG brand, extending their
agreement until 2023, it said on Wednesday.
The partnership plans an investment of some 200 million lira
($57 million) in commercial air conditioners and new technology,
Arcelik Turkiye CEO Can Dincer said in a statement.
Arcelik and Koc Holding signed a joint venture
agreement to manage operations of the Arcelik-LG Klima
partnership at the end of October last year. Under the deal,
Arcelik obtains the exclusive rights to sell LG branded
commercial air conditioners in Turkey, effective from April
($1 = 3.5346 liras)
(Reporting by Ebru Tuncay; Writing by Ezgi Erkoyun; Editing by