Category Archives: Manufacturing

Electrolux loses €180 million in the fourth quarter

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Electrolux has forecast that operating profit in the fourth quarter of 2022 will be negative by about -2.0 billion SEK (180 million euros), including non-recurring items of -1.4 billion SEK.

The year-over-year decline in earnings was primarily a result of lower consumer demand and lower inventories both at retailers and at Electrolux. The worst performances were recorded on the North American markets where Electrolux lost around 1.2 billion SEK, as indeed in the third quarter of 2022

Fourth quarter net sales for the Group are estimated at approximately SEK 36 billion, an organic decrease of approximately 8%. Operating profit excluding non-recurring items is estimated for the Group at around -SEK 0.6 billion compared to +SEK 1.6 billion (EUR 140 million) in Q4 2021. 

New gas stoves could be banned or regulated as consumer safety commissioner backtracks

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The backtrack came in response to a tweet from Republican Gary Palmer, who voiced outrage that unelected officials could ban an appliance used by tens of millions of Americans.

The idea of banning was first raised by  Democrat lawmakers Sen. Cory Booker and Rep. Dan Beyer, who sent a letter to the the CPSC urging it to take action after a study found that gas stoves were linked to higher cases of asthma.

In his backtrack Monday, Trumka added that people who choose to switch to electric stoves would receive an $840 rebate due to President Biden’s Inflation Reduction Act.Industry groups say that natural gas stoves don’t necessarily emit more harmful emissions than other types of stoves. the Association of Home Appliance Manufacturers and the American Gas Association both argued against a possible ban.

“Ventilation is really where this discussion should be, rather than banning one particular type of technology,” Jill Notini, a vice president at the Association of Home Appliance Manufacturers, . “Banning one type of a cooking appliance is not going to address the concerns about overall indoor air quality. We may need some behavior change, we may need [people] to turn on their hoods when cooking.”

While Karen Harbert, head of the American Gas Association, argued that neither the CPSC nor the U.S. Environmental Protection Agency (EPA) “present gas ranges as a significant contributor to adverse air quality or health hazard in their technical or public information literature, guidance, or requirements

Elica success story

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Elica is today the global leader in the sector of kitchen extractor hoods. They have managed to record numbers

Elica has achieved the right mix of financial soundness and Italian design & innovation soul:

✔️ we are expecting to close 2022 with incremental revenues and margin, in spite of inflation, geopolitical tensions and weak demand,

✔️ Elica are back to a sustainable long term dividend distribution plan aimed at preserving strategic investments and external growth,

✔️ looking for new M&A or joint venture opportunities to grow their cooking business,

✔️ Elica are leading the ecological transition in the HVAC industry with their BU Motors EMC FIME (representing 25% of the Group’s turnover, with a 30% growth rate).

Year after year, Elica have been expanding our value proposition and increasing their innovation rate, proving vision and resilience even in uncertain times.

LG to Unveil New Minimalist-Design Appliances at CES 2023Open share list

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LG Electronics (LG) is set to introduce a new line of minimalist-design appliances, including a washer and dryer, at CES 2023. Taking a ‘back to basics’ approach, the new range focuses on the essence of each appliance, removing all unnecessary design elements to deliver a timeless, minimalist aesthetic. The distinctive, durable products also reflect LG’s strong commitment to sustainability, featuring recycled materials inside and out and requiring fewer parts and less energy to make than conventional appliances.

Refreshingly unadorned, LG’s minimalist appliances match with any kind of décor, color scheme or interior trend. The lineup’s achromatic color palette and lack of decorative embellishment offers a modern yet classic look that allows the products to blend in seamlessly with their surroundings. In addition to a clean, simple design language, LG’s appliances boast an elegantly clear control experience that users will find effortlessly easy to get to grips with.

Aligned with LG’s goal to continuously reduce environmental impact across all areas of operations, the stylish, new products have been designed with sustainability in mind. By lowering the number of components and printed elements used, LG’s minimalist-design appliances take less time, use fewer resources and require less energy to manufacture. Each model in the new range also features internal and external parts – and ships in packaging – made from recyclable materials.

The new range, which includes a refrigerator, washing machine, dryer, oven range and dishwasher, is also a part of LG’s innovative upgradable appliance lineup, meaning users can add new features to the products via the Upgrade Center in the LG ThinQ™ app.

“Sustainable, stylish and simple to use, our minimalist-design appliances deliver new customer value,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “We will continue to provide advanced, thoughtfully-designed solutions incorporating our innovative technologies and reflecting our commitment to environmental responsibility.”

Visitors to LG’s booth (#15501, Las Vegas Convention Center, Las Vegas) at CES 2023 from January 5-8 can experience all of the company’s latest innovations, including the new minimalist-design appliance lineup

Falmec acquisition

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Falmec S.p.A., a Treviso-based company specializing in the production of design range hoods for kitchens, has finalized the acquisition of 100% of Friulana Accessori S.r.l. and Metaldomus S.r.l., companies historically active in the production of accessories and technical items for kitchens and bathrooms.

With over 50 years of expertise in the market and an internationally recognized brand Falmec proved to be the ideal partner to ensure the generational transition to the acquired Companies.

Copreci new factory

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Copreci signed an agreement with local partners Fresh Electric, EBDA and El Araby to invest $7.6 million in the first plant in Egypt, which will produce 15 million safety valves for gas stoves. This new plant will start serial production in April 2023. This new plant will be added to those already established worldwide and will enable the company to expand its product portfolio in the region, an increasingly interesting market.

Egypt has 105 million inhabitants and an annual growth of 3 million people, a country that is moving towards industrial modernization, where the white goods sector is a priority in this development.

Copreci has been working for many years and has been the reference for gas stove solutions in Egypt. Now, hand in hand with its local partners, it is taking a further step to provide local support for the technical and growth challenges faced by companies in the domestic appliance sector in the country

Midea on the Board of Connectivity Standards Alliance

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Midea Group announces that it has joined the Connectivity Standards Alliance , becoming a new member of the Board of Directors, to live up to its vision of improving consumers’ lives through universal and interconnected technology. In this context, Midea Group hopes that more and more companies will join in supporting the integration with Matter, the unique protocol of the Connectivity Standards Alliance that allows the most diverse IoT devices and smart appliances to communicate effectively.By joining the Connectivity Standards Alliance team, Midea Group will be at the forefront of promoting collaboration between all consumer electronics and smart home appliance brands, so that everyone can experience universal connectivity. As an industry leader, it is imperative that all of our brands’ smart appliances work effectively in tandem with connected devices from other global brandsMidea Group joins the Connectivity Standards Alliance together with other important companies in the sector and will collaborate in the creation of a universal connectivity protocol for all operators in the sector. Founded in 2002, the Connectivity Standards Alliance has been a leader in creating global open standards like Matter, building the foundation and future of IoT. With a broad membership of more than 500 different companies contributing market-proven technologies and best practices, and the 29 companies on the Board of Directors, the members of the Connectivity Standards Alliance have worked together for nearly two decades to simplify and increase the compatibility of the ‘IoT and concretely improve people’s lives.

Ten millionth refrigerator Hisense factory in Valjevo

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The ten millionth refrigerator was produced in Hisense factory in Valjevo, Serbia. The ten millionth refrigerator came off factory line at the beginning of December. According to the factory’s tradition, this jubilee refrigerator is not intended for sale, but for one of the employees, Mara Veselinović, who contributes to the company’s success every day with her commitment, hard work, and dedication. Mara Veselinović, the winner 🏆 of the jubilee device, did not hide her happiness for the gift given to her: “I try to give my best every day in my work, and I am glad that the company recognized my effort. The device I received will be useful for my daughter, who became a mother two months ago. I am very grateful to the company for the gift.”

SEVERIN TAKES THE NEXT STEPS IN THE REALIGNMENT OF THE BRAND COMPANY

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Important milestones reached in the development and expansion of the brand business in Europe.
Ulrich Cramer, CFO for many years, is leaving the company at his own request.
CEO dr Joyce Gesing drives realignment with strong leadership team.
In 2022, SEVERIN once again reached important milestones in the transformation process. The product portfolio was streamlined and realigned. Several high-end products and innovations have been successfully brought to market, with a high level of acceptance among end consumers and trading partners. The e-commerce business was successfully expanded across Europe in a difficult year. In addition, cooperation with specialist retailers in the electronics, grilling and hardware stores sectors was intensified. Important investments were made at the company’s headquarters in Sundern, Sauerland, as well as in processes and IT systems. All of this forms the basis for the international expansion of the manufacturer of electrical household appliances over the next few years.SEVERIN is a leading international manufacturer of intuitive, innovative and sustainable electrical household appliances. As a German quality brand with a 130-year history, SEVERIN stands for reliable and durable products that make everyday life easier for customers. With its headquarters in Sundern (Germany), six of its own sales companies in Europe and a long-standing presence in Asia, SEVERIN is globally active and supplies customers all over the world.

Fhiaba sells 25% to the Swiss V-Zug

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Fhiaba and V-Zug announce that they have signed a strategic partnership aimed at growing Fhiaba ‘s potential as an emerging manufacturer in the high-end domestic refrigeration segment and to strengthen V-Zug ‘s role as a reference appliance supplier for high-end kitchens level.The partnership, which has seen V-Zug acquire 24.99% of the shares of Fhiaba, will increase the production capacity of the Azzano Decimo-based company, allowing it to meet the growing demand for luxury refrigeration with the Fhiaba and V-ZUG, and with OEM customers.

Massimo Baron Toaldo will remain as president and CEO of Fiaba, and will be joined on the Board of Directors by Alberto Bertoz , chief international officer of V-Zug, and by Federico Zoppas , general manager of Zoppas Industries, as an independent member of the board.Production capacity should double by mid-2023.