Voltas and Ardutch B.V. (a subsidiary of Arçelik A.S.; part of the Koç Group-Turkey's largest industrial and services group), had earlier announced a Joint Venture for Consumer Durable Products in May 2017. Accordingly, a Joint Venture Company (JVC) - Voltbek Home Appliances (Voltbek) was established in India to engage in the business of White Goods. Voltbek has during the past few months taken various actions including identification of land for its manufacturing activities.

Pradeep Bakshi, Managing Director & CEO, Voltas, said, ''We are very happy to have laid the foundation stone for manufacturing plant here in Sanand, under the Make in India initiative. I am confident that Voltas, the No. 1 air conditioner company in India, and Beko, one of the leading home appliances brand of Europe, together, will play a significant role in catering to the consumer aspirations in the home appliances sector. As a Tata group company, we have always kept the consumer interest first, and I am sure that this JVC will continue to delight all our stake holders.'' and Ardutch B.V. (a subsidiary of Arçelik A.S.; part of the Koç Group-Turkey's largest industrial and services group), had earlier announced a Joint Venture for Consumer Durable Products in May 2017. Accordingly, a Joint Venture Company (JVC) - Voltbek Home Appliances (Voltbek) was established in India to engage in the business of White Goods. Voltbek has during the past few months taken various actions including identification of land for its manufacturing activities.

Pradeep Bakshi, Managing Director & CEO, Voltas, said, ''We are very happy to have laid the foundation stone for manufacturing plant here in Sanand, under the Make in India initiative. I am confident that Voltas, the No. 1 air conditioner company in India, and Beko, one of the leading home appliances brand of Europe, together, will play a significant role in catering to the consumer aspirations in the home appliances sector. As a Tata group company, we have always kept the consumer interest first, and I am sure that this JVC will continue to delight all our stake holders.''

Shares of the company declined Rs 1.9, or 0.37%, to trade at Rs 516.45. The total volume of shares traded was 66,427 at the BSE (12.21 p.m., Monday).