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).
An agreement has recently been signed in this regard at the headquarters of the Municipality of Borgo Valbelluna in Italy. Golam Murshed, Managing Director and CEO of Walton Hi-Tech Industries PLC, and Maurizio Castro, Extraordinary Commissioner of ACC, signed the agreement.
By defeating some globally renowned companies in an 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.
Walton will manufacture various electronics products of these three European brands, including compressors, refrigerators, televisions, air conditioners and market them globally.
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 in the signing ceremony.
Golam Murshed, Managing Director and CEO of Walton Hi-Tech Industries PLC 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 significant market share in Europe and other end markets around the world. This will also contribute in country’s employment, national economy and export earning and achieving the status of developed country by 2041.
