The European Antitrust has approved the merger of Whirlpool ‘s activities in Europe with those of Arçelik into Beko Europe . European Commission officials believe that the union of the former Whirlpool EMEA brands with Turkish ones does not lead to dominant positions.
The start of the operation announced in January 2023, however, must wait until the spring of 2024 when the English Antitrust Authority will complete its in-depth investigation having detected in an initial analysis the risk of a significant reduction in competition, especially in some areas of the market .
Whirlpool confident of a ‘green light’ also from London
Hailing the EU Commission’s decision, Whirlpool said it was confident that the CMA, at the end of the investigation, would also agree with the assessments expressed at the European level. However, the operation will be carried out, at worst, giving up access to the English market for some brandsThe Whirlpool-Arçelik operation in brief
Subject of the agreement: The agreement includes Whirlpool’s 38 European subsidiaries and 9 production sites in Italy, Poland, Slovakia and the United Kingdom, as well as Arçelik’s 2 production plants in Romania and its 25 European subsidiaries. Together, this will result in a production capacity of approximately 24 million white products per year.
Contractors . Shareholders of the new company are Whirlpool Emea Holdings LLC and Ardutch, a wholly owned subsidiary of Arçelik, a Dutch holding company through which Arçelik controls its activities in Europe. The deal will see both Ardutch and Whirlpool transfer their European subsidiaries to new Chinese company Beko Europe.
Subdivision of shares. After these transfers, it is expected that 75% of the new company will be allocated to Ardutch BV and 25% to Whirlpool. The final post-closing ownership ratio will be determined taking into account the parties’ respective 2022 EBITDA, net asset values, net debt and net working capital.
Monthly Archives: October 2023
TIME GE
TIME has named our GE Profile Smart Mixer to its list of Best Inventions of 2023! Each year, TIME recognizes groundbreaking inventions that are making the world better, smarter, and even a bit more fun.
Haier MetaLustre Convertible series of refrigerators launched in India
Haier has just launched its latest refrigerator offering in the Indian market. The new models are a part of the MetaLustre convertible refrigerators. The company’s MetaLustre lineup consists of three variants, so here are all the details.
Haier MetaLustre Series
All three models feature a steel finish and come in multiple color options. This adds a premium element to their design. Two of the models feature a two door configuration while the third is a side-by-side refrigerator. The company manufactured the MetaLustre refrigerator locally in India, which adds it to the Made in India list. Back in September, Haier had also announced the K800GT TV in India. The three MetaLustre models come with four storage capacities, which include a 237L, 240L, 325L, and 328L variant.
Arçelik profit
Arçelik has published excellent data relating to the third quarter of 2023. The Turkish financial site Borsatek reports a net profit of 1 billion Turkish liras (34 million euros): +198% compared to the third quarter of 2022 (an annual inflation of 65% must be considered ). Ebitda grew by 120% to 6.4 billion Turkish liras.
Consolidated revenues increased 70% year-on-year in line with forecasts, to TL 58.2 billion (nearly 2 billion euros).
Despite persistently weak demand conditions in international markets due to the difficult macro and political environment, revenue growth was supported by price increases and strong sales growth in Turkey.
Analysts welcome with satisfaction the results of the group which mainly operates under the Beko brand,
İş Investment has increased the target price for 12 months from 202 TL to 230 TL (currently it is 152 TL) as the company’s third quarter data have met expectations with strong operating profitability and strong net profit growth.
The company revised its revenue growth expectations in 2023 from 60% to 75% for its Turkish operations while remaining pessimistic for its international operations which it expects to contract in foreign currency terms by 4% during 2023.
AMDEA URGES CONSUMERS TO CHANGE HOW THEY USE THEIR HOME APPLIANCES
AMDEA urges consumers to change how they use their home appliances
UK householders are being urged to embrace a little knowledge to make simple changes to the way they use their home appliances to save money and benefit the environment to find out more visit https://www.amdea.org.uk/amdea-urges-consumers-to-change-how-they-use-their-home-appliances/
Glen Dimplex Heating & Ventilation (GDHV) and RKW Ltd announce agreement transfer of Redring and Burco water heating brand
Glen Dimplex Heating & Ventilation, a leader in electrical HVAC solutions, and RKW, a leading European distributor and manufacturer of domestic appliances, are pleased to announce an agreement that will see the transfer of the renowned water heating brands, Redring and Burco.
This agreement aligns to both company’s strategies with GDHV’s ongoing commitment to focussing on their portfolio of brands and technologies in the electric heating and ventilation categories, and RKW’s continued expansion plan into new product categories that complement core operations.
Ian Stuhldreer, Interim Commercial Director for GDHV says “We believe that this transition will enable new opportunities for growth in GDHV’s core categories, and we are confident that under RKW’s stewardship Burco and Redring will continue to evolve while maintaining the high standards of quality and innovation that have become synonymous with these brands. I would like to take this opportunity to express my sincere gratitude to our customers for supporting these brands whilst they were part of the GDHV family.”
For RKW, the agreement comes at an exciting time as the business continues to grow.
Rob Sutton Managing Director of RKW says “We are delighted to welcome Redring and Burco to RKW’s stable of leading brands. We feel privileged to be taking over recognised leading brands with real heritage in their respective markets.”
“RKW has a talented team with a proven track record of brand building. Our team will ensure the high service levels established by GDHV are maintained as we look to grow the brands and product ranges. We look forward to working with customers who have loyally supported Redring and Burco in recent years.”
Please note that Glen Dimplex Ireland have a distribution agreement in place with RKW to continue to sell product on the Island of Ireland.
Haier committed to renewable energy
Haier is committed to achieving at least 60% renewable energy at all their manufacturing sites by 2025. In 2022-2023, they have already reduced our operational emissions by over 20%* through the implementation of a range of energy efficiency solutions at our manufacturing sites.
Haier is delighted to have reached another milestone towards this goal: the installation of a 3.3 MW solar panel at the factory in Jinling, China, which is able to produce 3.6 million kWh per year, covering 15% of the plant’s energy consumption.
Haier will continue to look for new ways to improve sustainability and energy efficiency across all Haier Europe manufacturing sites, as we look forward to contributing to a more sustainable future for business and the planet.
Lg returns to TV with an advert dedicated to Instaview refrigerator
The new LG Electronics television campaign dedicated to the world of Side by Side LG InstaView refrigerators kicked off this week .
The television campaign is part of a broader communication campaign , which will also have variations on digital and social platforms, aimed at consolidating brand and product awareness.
The campaign is developed around the concept ” LG InstaView: the refrigerator made to look inside ” which refers to the peculiarity of the InstaView technology which allows, with two simple touches of the hand on the darkened glass panel, to look inside the refrigerator without having to open, thus avoiding unnecessary dispersion of cold air which is the basis of poor food preservation.This useful function was created precisely to deal with a very widespread habit: opening the refrigerator door and keeping it open for a long time while waiting to check its contents, decide what to eat, which foods to buy… that is, the bad habit created basically by the protagonist of the commercial, filmed while, motionless, he stares at the inside of the refrigerator without being able to make a decision
SMEG Design Europa coffee machine
Smeg received the DesignEuropa Award for its BCC Full Automatic coffee machine. Organised by the European Union Intellectual Property Office (EUIPO), the DesignEuropa awards recognise and reward great products and designers in the field of industrial design. The finalists stood out from almost 700 applicants for setting new standards in design, as well as prioritising sustainability and social impact.
The BCC machine represents a perfect synthesis of Smeg’s vision – the company said – a product with an iconic design that conceals advanced technology. It is the dialogue between technology and design that makes the product empathetic and user-friendly, so that the user can use it at any time of day
BBC by Smeg is an automatic coffee machine with a milk system. It features thermoblock heating system that ensures a faster preparation time for the machine and precise temperature control of the water for coffee extraction; built-in coffee grinder; foam for every drink thanks to the integrated milk system; pump pressure 19 bar for an always correct extraction of the espresso. The machines, available in White, Black and Emerald Green, can prepare 5 coffee drinks, 4 milk drinks and ha the hot water function.
Dyson opened the largest store in Berlin
Dyson’s largest store in the world is now open in Berlin. It was a tremendous effort from all teams involved. Dyson Demo Stores serve as a showcase of Dyson’s latest technology where customers can learn about our machines from highly trained Experts or get hands on with our innovative Demo experiences.
WHITEGOODSNOW 