Consumer electronics, household appliances
Established in 1955 by Vehbi Koc. It has 15 production facilities in 6 countries, supplying its 10 brands to 130 countries. Brands include Beko and Grundig.
| Koc Holding AS
owns 100% of Arcelik AS
D+ grade in the Baptist World Aid Australia's Behind the Barcode 'Ethical Electronics Guide 2016', which grades companies on their efforts to mitigate the risks of forced labour, child labour and worker exploitation throughout their supply chains. Assessment criteria fall into four main categories: policies, traceability & transparency, monitoring & training and worker rights.
[Source 2016][More on Workers Rights]
This company has been accused of making household appliances responsible for at least 11 fatalities in Europe by fires and carbon monoxide poisoning. The company was warned by the London Fire Brigade in June 2010 that some of its fridge freezers were 'a potential threat to life' after series of fires. However, they allegedly failed to issue a swift public alert resulting in at least one man dying after a fire 5 months later.
[Source 2013][More on Product Safety]
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: responsible corporate engagement in climate policy, adopt a science-based emissions reduction target.
[Source 2017][More on Climate Change]
|Koc Holding AS|
This company received a score of 15.5/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
[Source 2017][More on Sustainability Reporting]
Tupras, Turkey's sole oil refiner and subsidiary of Koc Holdings, has agreed to pay 55 million lira (US$22 million) after negotiating down with authorities a much higher tax demand and fines reported in a filing to the stock exchange. Turpras had faced a total payment of 160 million lira, including a tax demand for 65.6 million lira and fines of 94.4 million lira, for between 2009 and 2013. After negotiation with the Central Reconcilement Commission an agreement was reached including interest expenses in lieu of the previous demands.
[Source 2015][More on Finance]
In 2014 Turkey's competition regulator fined Koc Holdings subsidiary Tupras, the country's sole oil refiner, 412 million lira (US$186 million) for abusing its dominant market position in pricing and contracts.
[Source 2014][More on Governance]
In 2013 Tofas, the car making arm of this company, was ordered to pay 67.5 million lira (US$33.3 million) in taxes and fines for 2008-2010. The fine came after the banking arm of this company, Yapi Kredi, was ordered by the Turkish tax authorities to pay penalties totaling TL 103.2 million (US$50.61 million).
[Source 2013][More on Finance]
This company has extensive corporate social responsibility claims on its website including CSR Reports, social development, environmentally friendly practices, and social responsibility projects.
[Source 2016][More on Sustainability Reporting]
|Company Structure||Public company|
|# Employees||27,000 in 2015|
|Subsidiaries||Beko A and NZ Pty Ltd|
Products / BrandsBeko Australia
Beko Air Conditioners
Beko Fridges & Freezers
Beko Ovens & Cooktops
Beko Washing Machines & Dryers
Beko Coffee Machines