The sale of Philips Domestic Appliances business to Hillhouse Investment is now complete… with the company looking forward to a bright new future.
Royal Philips has announced that in September it had completed the sale of the Domestic Appliances business to Hillhouse Investment, a global investment firm. Philips originally announced the planned sale on March 25, 2021.
The transaction values Domestic Appliances, a global leader with €2.2bn sales in 2020 in kitchen, coffee, garment care and home care appliances, at an enterprise value of approximately €3.7bn. The total deal value amounts to approximately €4.4 billion resulting from an additional 15-year brand license agreement with annual payments that represent an estimated net present value of approximately €0.7bn.
“I am pleased that in line with our plans we have completed this transaction and concluded our major divestments,” said Frans van Houten, CEO of Royal Philips. “I am confident that the Domestic Appliances business will be able to expand on its market leadership with the support of Hillhouse Investment. In the past 12 months, Philips has further strengthened its portfolio with the launch of new products and solutions, as well as the acquisitions of Intact Vascular in image guided therapy, and BioTelemetry and Capsule Technologies in connected care. We are executing on our strategy to deliver integrated solutions that support professional healthcare customers achieve the Quadruple Aim and consumers with their health.
We are in a great position to continue bringing meaningful innovations to the consumer’s home in areas such as kitchen, coffee, garment care and home care appliances,” said Henk de Jong, CEO of Domestic Appliances. “We look forward to embark on this new partnership with Hillhouse Investment, building on our longstanding consumer, customer and partner relationships, as well as our market leading positions across our portfolio and the brand license partnership with Philips.”
Following the sale of Domestic Appliances, Philips’ €3.2bn Personal Health businesses will continue to shape its important role in the company’s integrated health continuum approach through products and solutions that support healthy living and prevention of diseases. Philips is a global leader in oral healthcare, personal care and mother & child care, areas that are essential building blocks of consumer health.
Monthly Archives: November 2021
BSH Home Appliances Group to Open Its First, State-of-the-Art Factory in Africa
BSH Home Appliances Group announced that next year it will start the building of its first cooking factory on the African continent. The plant will be located in Egypt. The company will invest more thab 30 million euro to expand its business in Africa and the Middle East. The state-of-the-art factory will be in line with BSH’s high standards in efficiency and sustainability and achieve carbon neutrality.
Electrolux compact appliances
With solo households set to grow 32% by 2030, and living space becoming ever more premium, we are seeing compact appliances being ever more desirable.
The new Electrolux Compact range is designed to fit in a wide range of kitchen configurations and includes the 900 Coffee machine, offering delicious coffee from the comfort of your own home. Easily prepare everything from espresso to cappuccino – just select a type of coffee, customise to your personal taste and the machine will do the rest with barista-level perfection.
Selecting a set of compact appliances for your kitchen design project no longer means making a compromise on performance.
For more information the Compact Range:https://www.electrolux.co.uk/kitchen/cooking/compact-built-in-range/
STRONG GROWTH FORECAST FOR DISHWASHER MARKET
In terms of revenue, the global dishwasher market is estimated to expand at a CAGR of 7.2% through 2031, according to a new report by Transparency Market Research.
In its latest market report, TMR predicts the changing lifestyles due to rapid urbanisation and surge in the purchasing power of developing countries will have a noteworthy impact on the overall dishwasher market. Increasing working population, nuclear families, and shortage of household help during the COVID-19 pandemic are escalating the demand for dishwashers, and the market has been witnessing robust growth over the past few years.
Key manufacturers of dishwashers are continuing to focus on investment in research & development to introduce innovative products. Prominent players in the dishwasher market are engaging with clients by offering them customised solutions. Key players promoting several innovative designs with attractive features and energy saving technology are likely to drive the growth of the dishwasher market.
Rapid urbanisation and more awareness regarding kitchen hygiene & cleanliness are generating demand for reliable kitchen appliances. This is likely to promote the sales of dishwashers during the forecast period. In addition, easy availability of dishwashers, continuous growth in the number of residential units, and consumers opting for smart appliances is likely to generate demand for dishwashers.
In terms of type, the dishwasher market has been segmented into free-standing, integrated, and semi-integrated. In recent years, the high adoption of free-standing dishwashers by consumers due to its feasibility, minimal space requirement, and ease of installation is likely to drive the market. Free-standing dishwashers majorly opted by end users with small homes or apartments is encouraging the growth of the dishwasher market.
However, increasing disposable income of consumers, and rising demand for kitchen appliances that match the interior of households and commercial spaces is likely to drive demand for built-in and semi-integrated dishwashers in the coming years. The market, on the basis of, distribution channel is likely to be driven by the online channel as most end users find it to be a convenient channel for shopping, as it provides huge discounts and several options while choosing a dishwasher during the purchasing process.
Regionally, Asia Pacific led the dishwasher market in 2020, and the region is expected to retain its dominance during the forecast period. Rising preference for dishwashers in countries such as Japan, India, China, Australia, and in Southeast Asia, is encouraging the growth of the market. Apart from Asia Pacific, Europe also significantly contributes to the growth of the global dishwasher market. The UK, Germany, Italy, and France are considered the major markets for dishwashers in EuropeIn addition, increasing popularity of smart dishwashers, along with rising dependency of users on kitchen appliances for cleaning dishes is promoting the growth of the dishwasher market.
Glem Gas
Glem Gas, the Italian company of cooking appliances, follows a path of sustainable development. Its industrial policy is strongly oriented towards environmental protection, via intensive research and experimentation aimed at continual improvements in appearance and performance that embraces the entire product life cycle, and thus also the eco-sustainable management of its components.
The forecasts for the future of our planet are becoming more and more alarming – said Glem Gas -: the greenhouse effect and the consequent climate changes may soon change the scenarios to the detriment of our ecosystem and thus our wellbeing. Like others, the household appliance industry is being called upon to review its production cycles and offer an active response to the need to increase responsibility for the environment. We must manage finite energy resources intelligently and make optimal use of the energy available from free, renewable sources, in a process that combines technological innovations with a great sense of social responsibility.
Glem Gas appliances are therefore manufactured with technologies that enable the recovery of their components – the company explained -, implementing a principle of reuse in line with a meticulous environmental strategy. The entire process is shifting towards environmentally aware design of products, built to last over time but also to be sustainable, using as many recyclable materials as possible and delivering more efficient, higher-performing solutions but with less energy consumption. Unused appliances and equipment enter a specific treatment process to recover most of their component materials and thus reduce environmental impact».
In addition, Glem Gas undertook a scrapping procedure on a lot of 112 tonnes of waste material. Each type of equipment was broken down into its various components and then recycled with impressive percentage results on the entire volume: 97% of raw materials reused 1% recovered in the form of energy. We like to think – the added from the company – that every cooker is is part of a shared project, avoiding waste and adopting reuse and self-recycling, aiding us on our way to a better future with optimal safeguards for the natural world
AO World shares dive 24 per cent amid driver shortage and supply chain problems
Shares in AO World plunged this morning after the online electrical retailer reported an operating loss of £11m in the six months to 30 September 2021, as a shortage of drivers and global supply chain issues stalled growth in the UK.
The disappointing results come a year after the UK-based company recorded an operating profit of £16m for the same period.
Electrolux receives EIB loan to increase energy efficiency of appliances
Electrolux has signed a €250 million loan with the European Investment Bank (EIB) to support research, development and innovation (RDI) on more energy-efficient household appliances.
Electrolux will use the financing to boost its research and development in the areas of energy efficiency and digitalization. The financing signed is the fourth EIB operation with Electrolux and comes after a similar facility signed in 2015, which also highlights the need for continued innovation in areas such as energy efficiency in the face of climate change.
“We have ambitious targets to become climate neutral and we appreciate the ongoing support from the EIB to help us achieve this. From how we source our materials, to coming up with innovations that allow both ourselves as a business and anyone who buys our products to have as low an impact on the planet as possible is central to us,” says Jonas Samuelson, CEO of Electrolux.
85% of total CO2 emissions in the life cycle of white goods are produced during the use of the products, highlighting the need for sustainability by supporting the development of products with improved environmental performance, such as appliances with reduced water and energy consumption. Electrolux will also study solutions to minimize plastic waste from its products and promote their recycling
What does a freezer, an airplane cabin and a charging cable of an electric car have in common?
When talking about the technology behind BioFresh and HydroBreeze, @Thomas Obererlacher is in his element. Liebherr refrigerators are using these technologies today. In an insightful interview with two colleagues from other Liebherr product segments, he discussed current and future trends in cooling and airconditioning technology.
Read the whole interview here:https://www.liebherr.com/en/int/magazine/future-of-cooling/future_of_cooling.html
Miele artificial intelligence
“AI will be the new mechanical engineering.” In an interview with the Kompetenzzentrum Arbeitswelt.Plus, Dr. Stefan Breit, Managing Director Technology, explains the potential of artificial intelligence for the working world of tomorrow at Miele. One of our current flagship projects, for example, is an intelligent tool for human-centered personnel deployment planning in production. Further information at:https://youtu.be/HWQFHtnEC2U
Baraldi new island hoods
Baraldi new kitchen cooker hoods, include island models for large kitchens are a series of prestigious appliances that become protagonists in large kitchens. These hoods are solid and functional and are equipped with the latest generation engines of class A or A + up to 900 m3 / h. They are easily installed using convenient brackets and can be used on ceilings of various heights thanks to the extendable chimneys. The hoods island intake for large kitchens are available in 90, 116, 146 or 176 cm versions to adapt to the islands or peninsulas of larger kitchens.
They are always equipped with high brightness and low consumption Led lights and can work both in the suction version with aluminum filters and the grease filter for filtration up to 95% of grease and in the filtering version also with washable and regenerable anti-odor filters. long duration. Each hood is made with the best materials available on the market and represent the excellence of Made in Italy.
Metropoli (in the photo) is a model whose stainless steel body is satin scotch brite, with white and black glass. It is equipped with latest generation engines up to 900 m3 / h.
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