Walton has got the rights of more than 50 years long-established three European electronics brands along with a fully automated inverter and non-inverter compatible compressor manufacturing plant.
The European brands are: ACC, Zanussi Elettromeccanica (ZEM) and Verdichter (VOE).
By defeating some globally renowned companies in international bidding, Walton Hi-Tech Industries PLC has received the rights of the brands from Italian Wanbao-ACC S.r.I, along with their trademark and brand of 57 countries, all R&D intellectual properties (patents, design and software licenses).
Walton has also taken over a fully automated inverter and non-inverter compatible compressor plant with a capacity of 3.2 million units per year, according to a media release.
Walton will manufacture various electronics products of these three European brands, including compressors, refrigerators, televisions, air conditioners and market them globally.
Through the procurements of these three European brands, a new era has been added to the high-tech industry of Walton around the world. And also, Walton has moved one step further towards becoming one of the top global consumer electronics brands by 2030.
For the continued operation of those three brands, Walton has also decided to open operational offices in Europe and USA.
Walton aims to capture the global market with those historic European brands. Besides, domestic buyers will also be able to buy and use the products of those European brands.
An agreement has recently been signed in this regard at the headquarters of the Municipality of Borgo Valbelluna in Italy, the release said.
Golam Murshed, Managing Director and CEO of Walton Hi-Tech Industries PLC, and Maurizio Castro, Extraordinary Commissioner of ACC, signed the agreement.
Among others, Federico D'Incà, Italian Minister of Relations with Parliament, Dario Bond, Deputy of Italian Parliament and also President of the committee for investments in Italian boundary regions, Stefano Cesa, Mayor of Mel (Valbelluna), Silvia Cestaro, Counselor to the Government of Veneto Region, Giovanni Puppato, Counselor of Veneto Region, Maria Berton, President of Confindustria Belluno (industrial association), and Rabiul Alam Rajib, Chief Business Officer of Walton Compressor, were also present.
Dario Bond also adorned Walton CEO Golam Murshed with the honourary badge of Italian Parliament, the release added.
Speaking on the occasion, Golam Murshed said that getting the rights of fully automated compressor plant will be resulted in expanding Walton compressor factory’s existing production capacity to about 5 million units per year, which will also result in establishing a significant market share in Europe and other end markets around the world. This will also contribute to the country's employment, national economy and export earnings and achieving the status of a developed country by 2041.
As a part of this effort, Walton got the rights of European electronics brands with trademarks in 57 countries and production plant, he added.
He informed that Walton will soon release refrigerator, air conditioner and washing machine of ACC brand. Production and use of energy-efficient products are essential to achieving sustainable development goals. The ACC compressor plant, which we have got rights, is the first full-fledged automated inverter compressor manufacturing plant in this subcontinent. The plant will produce one of the world's most energy-efficient compressors and also make a huge contribution to 100 per cent electrification of the country, he added.
Walton Compressor’s CBO Rabiul Alam Rajib said, "Walton launched the country’s first-ever and sole compressor manufacturing plant in 2017, which was emerged Bangladesh as the world’s 14th compressor producing country. That plant was brought from Austria. This means we have 5 years of experience in manufacturing high-tech products like compressors using European technology. Now, Walton moved one step further in this sector by getting the rights of three European brands and another high capacity compressor plant. This initiative will make a great contribution to the expansion of Walton's global business."
