After an evaluation of various alternatives, Electrolux Group has decided to retain its business in Egypt since the value is considered to be higher if it remains within the Group.
The business in Egypt includes sales and production of major appliances as well as water heaters and is profitable with well-established and strong brands.
“We have a successful business in Egypt and after evaluating different options, we concluded that it will create a higher value by continuing to be part of the Group”, says Yannick Fierling, President & CEO of Electrolux Group. “Our objectives going forward are to take advantage of the growing market in Egypt and increase our market share as well as to expand export from Egypt.”
The potential divestment of the Group’s business in Egypt was communicated as part of the announcement on July 20, 2023 to initiate preparations for divestment of certain assets. After today’s announcement, this divestment program is closed
Category Archives: Manufacturing
Rachel Paget, new deputy general manager @ Groupe Seb
Groupe Seb announced the strengthening of its management team, with the arrival of Rachel Paget as Deputy CEO in charge of human resources. In her new role, she joins the Executive Committee (Comex) and the General Management Committee (CDG), reporting directly to Stanislas de Gramont, CEO of the Group.
EU Commission Is Threatening Jobs and Innovation
By dismissing the appliance sector’s strategic importance, the EU risks undermining its innovation, sustainability, and economic resilience goals. Read more here .https://europeanconservative.com/articles/analysis/eu-commission-is-threatening-jobs-and-innovation/
𝗡𝗲𝘄 𝗘.𝗚.𝗢. 𝘀𝗶𝘁𝗲 𝗼𝗽𝗲𝗻𝗲𝗱 𝗶𝗻 𝗠𝗲𝘅𝗶𝗰𝗼
The E.G.O.-Group (E.G.O.) has relocated its Mexican site E.G.O. Componentes Electrónicos, S.A. de C.V. (E.G.O. Mexico) to Apaseo el Grande. The new production hall in the Amexhe Industrial Parc has a surface area of approx. 18,000 m², which can be expanded to almost 30,000 m² on a modular basis if necessary. At the state-of-the-art workplaces, approximately 300 employees now produce electronic controllers for dishwashers, clothes dryers, ovens, refrigerators, and washing machines, as well as the EGO HiLight® radiant heating element.
At the official opening, management and employees celebrated this important milestone in the 100-year history of the E.G.O.-Group
Glem gas increases production
A surge in demand for Glem and Emilia cooking appliances worldwide has led to increased production at the Glem Gas factory in Modena, Italy. Glem has employed an additional 80 staff to meet the manpower requirements and has also commenced Saturday production Glem has been manufacturing cookers for more than 50 years and as brand awareness in international markets continues to grow, the company will continue to expand Among Glam Gas’ new products, the e-line range includes cooking appliances that run exclusively on electricity. The Specialista cookers with induction hobs mark the evolution initiated by the company and will be offered for the first time on the Italian market from April 2025. Induction hobs paired with no-drop hoods also stem from a rethought approach, created in response to the company’s decision to embark on the path of carbon neutrality.
Another new addition from Glem Gas is the SA line of the Specialista cookers, brand’s flagship products. It features functional design, high stability and ergonomics.
Europe’s new industrial strategy
With 75% of large and 50% of small appliances made and sold in Europe, the home appliance industry is a major economic asset for the EU.
In designing the Clean Industrial Deal, the European Commission must ensure that this industrial excellence is preserved and enhanced.
Today the sector supports 1 million families across the EU, but this workforce is at risk if there are no clear signals from policymakers encouraging manufacturing within Europe.Read the full analysis: https://applia-europe.eu/news-applia/5-reasons-home-appliances-are-key-to-europes-new-industrial-strategy
Haier European manufacturing update
Haier Europe has signed an agreement today with trade union representatives regarding the reconversion project of the Brugherio production site. The agreement follows the meeting of 20 January, during which the company presented the European business transformation plan to the
#unions . The project, which will be structured in several phases starting from July 1st, will have the objective of transforming the Brugherio plant into the Haier Europe Service Hub, dedicated to spareparts , which will serve the European markets in which the company operates. In particular, the project involves the consolidation of logistics activities, including reception, storage, packaging and shipping. Following the reconversion plan, the plant will have a storage capacity of approximately 50,000 pallet spaces, distributed over an area of 44,000 square meters. To support this transformation, Haier Europe has planned an #investment of between 6 and 9 million euros. With the reconversion plan of the Brugherio site and the start of the Service Hub activities, the company expects to employ approximately 110 people of the 160 #employees currently employed at the production site. In addition to the Service Hub, Brugherio will continue to host the European management center (HQ) – together with the offices in Vimercate – the Milan Experience Design Center and the research and development laboratories dedicated to connectivity and the Internet of Things, to support all product lines, for a total of approximately 900 people
Whirlpool India shares plunge as parent plans to halve stake
Whirlpool Corp said it would more than halve its stake in its Indian unit to about 20%, sending Whirlpool of India’s shares plunging an exchange-allowed maximum of 20% to a near ten-month low on Thursday.
The U.S.-listed home appliance maker, which currently has a 51% stake in the India unit, said it estimates net cash proceeds, opens new tab of $550 million to $600 million from the sale, which it expects to close by mid-to-late 2025.The company will remain Whirlpool of India’s largest shareholder, followed by a number of mutual funds with stakes of less than 10%.
Whirlpool Corp sold a 24% stake in the Indian unit for about $468 million last year and the latest sale comes as it aims to pay off a major chunk of its debt amid a major rejig of its global assets, including folding its European business into a new firm and selling its Middle Eastern and African businesses
Groupe SEB: Consumer sales recover
After the difficult phase, Groupe SEB resumes growth by 5% in 2024, drawing satisfaction from the sales of Tefal, Moulinex, Krups, Rowenta, Lagostina, Emsa and Wmf also in Western Europe. Little satisfaction from the professional segment, which increases by only 1.4% and does not exceed one billion euros despite the investments of the management.The Professional area in which the group had invested by acquiring the brands La San Marco, Pacojet, Forge Adour and Sofilace and which had driven sales and profits in the difficult years perhaps disappointed with an increase of only 1.4% just under one billion euros (but the operating margin increased by 10%).
APPLiA – Home Appliance Europe
In a recent statement, leaders from 25 top European home appliance brands have united to emphasise the crucial role the industry plays in Europe’s economy and society.
The industry contributes €79 billion to the EU GDP and supports over 1 million jobs. As Europe’s industrial future is shaping, now is the time to address key challenges.
The priorities are:
✅Mitigate rising cost pressures
✅Streamline the regulatory environment
✅Enhance the Single Market
✅Ensure a competitive global market
