Monthly Archives: August 2023

Midea could acquire Zanussi and its activities in Egypt

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According to Egyptian media Midea Group is considering the acquisition of Zanussi brand from Electrolux Group . The acquisition deal is expected to be finalized by the fourth quarter of 2023.

In July, the Swedish giant had appointed Societè Generale to handle the sale of the Zanussi, Ideal, Faure, Zanker, Rosenlew, Elektro-Helios, Zoppas, Olympic Electric and Kwikot brands and activities in Africa and the Middle East.

Electrolux’s activities in Egypt became relevant in 2011 with the acquisition of Egyptian Olympic Group, the largest white goods manufacturer based in the Middle East. Electrolux employs 2,238 people in Egypt.

98% of electricity used in Electrolux global operations comes from renewable sources

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98% of the total electricity used in Electrolux Group manufacturer operations came from renewable sources. While a small proportion of non-renewable electricity is still sourced, Electrolux Group is proactively working to achieve 100% renewable electricity globally by 2025.

Electricity accounts for 60% of Electrolux Group’s total energy use and is a key component of the company’s journey to eliminate the use of fossil fuels in its operations by 2030 and across the entire value chain by 2050. This percentage will grow in the coming years as Electrolux Group operations are increasingly electrified.

Electrolux Group now has sites with solar photovoltaic (PV) systems in Italy, Thailand, Australia, Mexico, China, South Africa and Sweden. In 2022, these systems avoided greenhouse gas emissions of around 5,000 CO2e by producing around 10 GWh of electricity

LG to Share Vision for a Sustainable Life at IFA 2023

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LG Electronics (LG) invites consumers from around the globe to experience its latest innovations at IFA 2023 in Berlin, Germany (September 1-5). Under the theme of Sustainable Life, Joy for All, the company will introduce the LG Sustainable Village and an evolved ecosystem of efficient, convenient and sustainable products and solutions designed to help create a better life for people and the planet.

During IFA 2023, visitors to LG’s booth in Hall 18 at Messe Berlin can discover the advanced, eco-minded features and functions of the company’s newest offerings and learn about its comprehensive vision for a sustainable life.

Those unable to attend IFA in person can still explore LG’s innovation showcase by checking out the LG Booth video, which will be uploaded on the LG Global YouTube channel (www.youtube.com/@LGGlobal) on opening day.

Beko Egypt factory

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Beko Egypt is on track to open its $100 million plant in the 10th of Ramadan City in the fourth quarter of 2023, the company said in a press statement.

The disclosure was made in the statement announcing the meeting between Egyptian Minister of Trade and Industry Ahmed Samir and Umit Günel, General Manager of Beko Egypt in Ankara.

The plant, spread over 114,000 square meters, will have an annual production capacity of 1.5 million devices and will export 60 percent of its output to Europe, the Middle East, and Africa.

Whirlpool India

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Whirlpool of India Ltd reported a 10.6% drop in first-quarter profit on Monday, impacted by softer demand.
consolidated net profit for the three months ended June 30 fell to 748.8 million rupees ($9.05 million) from 837.3 million rupees a year earlier.

Revenue fell 2% to 20.39 billion rupees, hurting the company’s operating profit metrics.

SharkNinja begins trading on the New York Stock Exchange.

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SharkNinja has officially joined the New York Stock Exchange (NYSE) as a standalone U.S. publicly traded company.

In a statement released by SharkNinja, President and CEO Mark Barrocas stated the following:
“Our success lies in understanding our consumers’ needs and rapidly developing innovative products to exceed their expectations. This approach has enabled us to build two billion-dollar brands, Shark and Ninja, by establishing leadership positions across numerous household product categories. Myself, the management team, and our associates around the world are all very excited that SharkNinja, headquartered in Boston, is now a public company listed on the New York Stock Exchange.”

Hisense new laundry

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Hisense has announced the launch of the 5S series laundry collection, which includes smart washers and dryers. The manufacturer’s new product line features the latest technologies including; Automated dosing, high-temperature steam and devices also have access to the ConnectLife app. The new Hisense WF5S1045BW 5S Series washing machine will automatically select the correct detergent with the amount of rinse aid depending on the weight of the clothes in the drum. The machine can also hold and store up to 24 detergents at a time.

Steam Wash

Keep allergies away from your laundry

Removes 99.9% of bacteria giving you a deep clean free of harmful germs The high-temperature steam is released from the bottom of the drum, and the steam fully penetrates the clothes, which can eliminate 99.9%* of Escherichia coli and Staphylococcus aureus attached to the clothes This product line includes the DH5S10 5S series dryer equipped with a high-pressure sensor, which can continuously accurately monitor the temperature and residual water, ensuring a more efficient drying process. This dryer comes with a new “dry in less than half time” program, saving you time and energy in just 30 minutes. It can also detect the dryness of the clothes, if the clothes are not taken out of the drum within 15 minutes, the tub will stop heating and turn continuously, stopping every 5 minutes – this prevents clothes stay in the same position for too long and cause wrinkles.