Voltas completed the formation of a joint venture with Arcelik.

Voltas, an air-conditioner maker, completed the formation of a joint venture with Arcelik in a $100m deal. "Voltas, a Tata Enterprise; and Ardutch, a subsidiary of Arcelik- part of the Koc Group, have agreed to establish a joint venture company in India, to enter the consumer durables market in the country. The new company to be incorporated in India will be an equal partnership joint venture," joint statement.