Category Archives: Manufacturing

Guangdong Homa Appliances hostile bid by TCL

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Leading Chinese TV maker TCL is seeking to swallow Guangdong Homa Appliances, a big manufacturer of refrigerators, in a hostile takeover bid.

TCL already has a 20% stake in Homa Appliances, whose stock it began snapping up at the beginning of the year. The move, at diversifying TCL’s business portfolio, comes in response to radical changes in the business environment. After years of rapid growth, backed by a vast domestic market, Chinese appliances makers are under strong pressure to branch out into new businesses and markets.

Calling Homa Appliances “an extremely competitive company,” Li Dongsheng, chairman of TCL Electronics, the core unit of the TCL group, suggested in early March that the group would continue amassing Homa shares in the coming months

Philips is to sell its domestic appliances business to Hillhouse Capital

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Philips is to sell its domestic appliances business to Hillhouse Capital with a 15 year licensing deal in the last of its re-structuring deals.

The domestic appliance business had sales of EUR2.2bn in 2020 in kitchen, coffee, garment care and home care devices as part of total sales of EUR19.2bn for Philips. The license agreement has annual payments that represent an estimated net present value of approximately EUR 700m, resulting in a total deal value of approximately EUR4.4bn. The deal is expected to be completed in the third quarter of 2021 subject to customary closing conditions. Philips and Domestic Appliances will enter into an exclusive brand license agreement to use the Philips brand and certain of Philips’ other domestic appliances brands for manufacturing, sales, and marketing globally for a period of 15 years, which is renewable subject to the terms of the brand license agreement. This will see the Domestic Appliances business presented as a discontinued operation in Philips’ financial statements from the first quarter of 2021, minimising the financial impact of losses from the Covid-19 pandemic. “I am pleased that in Hillhouse Capital we have found a new home for the Domestic Appliances business to further expand on its market leadership, strong brand and pipeline of new innovations,” said Frans van Houten, CEO of Royal Philips. The deal, which started in January 2020, continues the focus for Philips as a medical technology company, after its recent acquisition of medical data management companies, although it has kept the personal health business. “This transaction concludes our major divestments,” said van Houten. “Going forward, our focus is on extending our leadership in health technology and continuing our transformation into a solutions company supporting professional healthcare customers achieve the Quadruple Aim and consumers with their personal health.” This includes the EUR 3.2bn Personal Health businesses as part of the integrated health continuum approach through consumer-driven product and solutions innovation in areas such as oral healthcare, personal care, and mother & child care, says van Houten. “We look forward to joining forces with Philips to expand into new markets and capture more growth opportunities globally,” said Lei Zhang, Founder and CEO of Hillhouse Capital. “We are aligned with Philips’ mission to bring high quality products to support healthy and fulfilling lifestyles for consumers across the globe.” The domestic appliance business has 7000 staff and operates in 100 countries. The headquarters will remain in the Netherlands, says Zhang. “I am convinced that together with Hillhouse Capital’s deep e-commerce, supply chain and digital expertise, we will be in a great position to continue bringing meaningful innovations to the consumer’s homes,” said Henk de Jong, CEO of Philips Domestic Appliances. “Based on our market leading product portfolio, broad customer and consumer base and R&D capabilities, we are keen to keep supporting families and individuals to lead healthier and happier lives. We look forward to working with Hillhouse to capture additional growth opportunities.” Hillhouse is backed by US universities including Yale, Stanford and Princeton and has strong links in China with investments in Tencent and JD.com, but has also invested in an organic baby food and snack manufacturer called Little Freddie, a Californian craft beer maker and a pet food brand. https://www.philips.com

Sub-Zero and Wolf Unveil New Products and Design Innovations in Virtual Showcase

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Latest Kitchen Appliance Offerings Centered on Evolving Consumer Needs and Advanced Engineering Solutions.Sub-Zero group the leading manufacturer of Sub-Zero premium refrigeration, cooking equipment, and dishwashing brands Sub-Zero, Wolf, and Cove, has expanded its offering with the launch of four new products unveiled in their first-ever virtual showcase.  The new appliances reinforce an unparalleled commitment to the quality, performance, and purposeful innovation the storied brands have come to represent since the company’s founding over 75 years ago.

“Our commitment to perfection, our passion that drives our every innovation—meticulous research, development, and rigorous testing—that is what brought us here,” says President and Chief Executive Officer Jim Bakke.

The company continues to focus on the kitchen of the future­­ based on emerging technology, science, and design.  The new products are equipped with enhanced performance features and are Wi-Fi enabled to offer greater control, convenience, and simplicity.  Refined aesthetics are fresh and modern for harmonious integration into kitchens of any style.

“As always, Sub-Zero, Wolf, and Cove represent the pinnacle of meaningful luxury,” says Tim McDonough, Senior Vice-President of Marketing and Product Innovation. “Our products are built with a singular goal: to provide the highest-caliber, specialized luxury home appliances in the marketplace.”

2021 innovations include:

  • Sub-Zero Designer Series Undercounter Refrigeration – Anywhere refrigeration for every style. This diverse collection offers luxurious convenience and unmatched style while precisely preserving food, wine, beverages—even cosmetics. Featuring fully customizable exteriors and assorted functions, it seamlessly and beautifully integrates into any space.
  • Wolf E Series Built-In Oven – Enhanced cooking performance inside, cleaner, design-friendly aesthetics outside. Wolf E Series Built-In Ovens are equipped with an advanced dual convection system and chef-tested modes—including effortless Gourmet Mode—to ensure consistently delicious results. Two distinct designs integrate seamlessly in kitchens of many styles.
  • Wolf Induction Range – The historic and unparalleled performance of the Wolf range in a modern shell. Completely redesigned to provide a sleek alternative to the professional-style range, the Wolf Induction Range offers refined, clean lines and a fully integrated touch-control panel on top.
  • Wolf Dual Fuel Range – A precise combination of professional heritage, stunning aesthetic, and innovative performance in one bold cooking package. The Wolf Dual Fuel Range’s durable construction and intuitive features ensure every home chef can enjoy guesswork-free cooking and predictably delicious results for decades.

Haier’s 70 million Euro Refrigeration plant in Romania to start production in late Spring 2021

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Haier Europe announces that construction of the first Haier refrigeration production facility in the EU is proceeding according to schedule, with production expected to start in late Spring 2021.

This production facility will manufacture best-in-class refrigerators, both built-in and freestanding for Haier Europe’s 3 brands – Candy, Hoover and Haier – with a focus on connectivity and preservation.

This large investment project exceeds EUR 70 million. The factory will have 63,000 square meters floor space on a total land of 130.000 square meters, located in the Allianso Industrial Park at Aricestii Rahtivani, near Ploiesti, 70km away from Bucharest.

The new factory will employ nearly 800 people – at full capacity – for an expected production of 600,000 units after 2022. The factory design, which is based on modular approach, will allow an expansion up to 1 million units at full capacity.

“We are happy to have chosen Ploiesti for our first cooling production facility in the European Union. This project will make Romania a strategic hub for Haier Europe and will play a key role in its strategy to become one of the top 3 leaders in the industry by 2023. With its large production capacity, technology transfer and logistic features, we are confident this facility will be a first class project that effectively shows our ‘zero distance to consumers’ philosophy”, says Alessia Ianni, Cooling Technical Operation Director at Haier Europe and Managing Director at Haier Tech Romania.

The Romanian plant will be a world-class facility featuring premium production processes brought by Haier’s advanced R&D, manufacturing capabilities and know-how. Its strategic central location, technology and efficiency will enhance Haier’s ability to serve customers in the region. This key project represents a strategic pillar in the leadership’s consolidation path of the Company in the refrigeration segment worldwide and in the execution of Haier Europe’s vision to become the first choice for consumers for smart home.

Haier Tech factory in numbers:

70+ million euros investment
63,000 square meters Floor Space
130000 square meters of land
800 new jobs
Up to 1 million fridges/year produced

Glen Dimplex acquires a majority shareholding in Thermofilm

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Glen Dimplex Group is pleased to announce it has acquired a majority shareholding in Thermofilm Pty Ltd. Based in Dandenong South, Victoria, Thermofilm produce and distribute a premium range of “Heatstrip” outdoor radiant heating products – both electric and gas. Products within the Thermofilm range include the award winning HEATSTRIP heaters, BLISS heaters and CROSSRAY bbq’s

Haier Leads Euromonitor’s Major Appliances Global Brand Rankings for 11th Consecutive Year

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Haier, the world’s leading home appliance producer, has emerged as the top major appliances brand worldwide for the 11th year running, according to Euromonitor International’s 2020 Global Major Appliances Brand Rankings. The accolade follows Haier’s ongoing efforts to gain a global foothold by consolidating world-leading brands into its portfolio while accelerating its revolutionary IoT ecosystem.

Compiled annually by Euromonitor International, a leading global provider of business intelligence, the report ranks the world’s appliance brands by retail sales value. In addition to listing first for major global appliances, Haier ranked first for Refrigerators for 12 consecutive years, first in Washing Machines for nine years, first in Freezers for ten years and first in Electric Wine Coolers for 11 years.

“We are honored to again be the world’s top major appliances brand for the 11th year in a row. Haier is constantly striving to listen to consumers’ changing needs and adapt to them, while simultaneously harnessing cutting-edge technology to stand out in the market,” said Wang Ye, Vice President and General Manager of Smart Home of Haier Home Appliance Industry Group.

Haier’s dominance in home appliances is a result of an ongoing commitment to R&D, and its ability to adapt its business model to the latest technology and consumer trends. Over the past decade, the home appliance industry has radically transformed with the rise of the internet, IoT, AI and 5G. Rather than ride the trends, Haier has defined them with revolutionary products, from the Clean-Free washing machines to refrigerators with fresh storage boxes.

This is set to continue in the future: during its 35th anniversary, Haier revealed its next stage of development, which puts customization, globalization and its IoT ecosystem brand at the core of its strategy.

Always in pursuit of new ways to engage with consumers, Haier has also implemented its “RenDanHeYi” 10+N R&D model in the past decade — an open entrepreneurship platform that integrates quality global resources to meet the diverse needs of users.

In recent years, Haier’s desire to reimagine the future has only strengthened its position as the world’s leading significant appliances company. In the Industry 4.0 era, a new Haier has emerged to meet the increasingly sophisticated experiences demanded by consumers in the age of connected smart homes. Instead of manufacturing smart appliances, Haier engineered a smart home ecosystem that harnesses IoT and smart appliances to enhance the quality of life. In a company first, Haier launched its official Haier Smart Home app in 2019, which allows users to infinitely customize their smart home experience based on user scenarios, rather than products. A live stream video accompanied the app launch — within one day, Haier received over 31,337 orders for over 2,440 different home designs.

Haier confirms plans to open its first European refrigerators plant in Romania

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Haier Tech Romania, a subsidiary of the China-based global appliance manufacturer Haier Group, announced that works on the first Haier refrigerator production facility in Europe advance according to schedule, and the factory will begin operations at the end of spring 2021.

The new plant will produce both built-in and standard refrigerators for Haier Europe’s three European brands – Candy, Hoover, and Haier.

“This large-scale investment project exceeds EUR 70 million. The 63,000 sqm plant sits on a 130,000-sqm plot in the Allianso Industrial Park in Aricestii Rahtivani, near Ploiesti,” the company said in a statement

According to the source, the new facility will hire almost 800 people at maximum capacity for an estimated output of 600,000 units after 2022.

New American Appliance Manufacturer Is Born

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Ethan Weston-Altea announced on Thursday evening the launch of a new American appliance manufacturer, Inovant.

Inovant’s mission will be to bring beautiful, innovative, and functional home appliances that instill customer excitement, elevate creative industrial design and engineering to new heights, are manufactured in USA, and retail at an accessible price.

Inovant will keep all product development and manufacturing in-house, as well as operate its own marketing, sales, distribution and after-sales support departments. In an effort to keep prices low, Inovant will offer online ordering and direct-to-customer sales.

Inovant’s new factory in Fresno, California is set to be completed and begin initial production runs in Summer 2021, with production capacity gradually increasing and expected to reach full manufacturing capability by mid-2022.

Inovant will begin with releasing a selection of consumer home appliances that were originally invented by Ethan Weston-Altea and designed and engineered by him and his team. Inovant will reveal more details of its initial products lineup towards the end of Q1 2021, which will become part of a large and rapidly expanding product line.

One of Inovant’s first products is an advanced home appliance that has been under active development since 2015, and is based on an idea Ethan Weston-Altea conceived back when he was a child but to this day never saw materialize as a real product. Inovant’s launch was initially set to take place in 2020, but was moved to 2021 due to several setbacks, primarily the covid-19 pandemic and the strict safety measures that apply to all manufacturers in the state of California.

This marks the beginning of an exciting new manufacturer in the home appliance space, and the first chapter of what we hope will become a long and captivating story in the technology world. The team at Inovant couldn’t be more eager to reveal some of the exciting products we will be releasing later this year.

Ethan Weston-Altea commented: “It is with great honor to see this life-long dream of mine, which represents the culmination of years of hard work and dedication, finally materialize. To bring revolutionary products that make a difference in people’s lives, right at the center of their own home, is one of the highest accomplishments any designer or engineer could dream to accomplish, and I can’t wait to show you some of the exciting things we’ve got awaiting you.”