GE Appliances, a Haier company, complete the 450 million dollar transformation and investment announced in late 2021 for Appliance Park, the company’s headquarters in Louisville, Kentucky. Three of the Park’s five major plants have received significant upgrades over the past two years with new topload washer models and four-door refrigerators added as well as new assembly lines and fabrication equipment.
«We are committed to U.S. manufacturing and Louisville, Kentucky – said Kevin Nolan, president and CEO of GE Appliances –. From design to production, our team is always finding a better way to bring the latest appliance technology to homes and families across America. Together, with our state and local partners, we are building a stronger state economy and community.»
GE Appliances’ manufacturing facilities, like the featured dishwasher plant, are vertically integrated starting from rolls of coiled steel. New fabrication equipment produces millions of tubs, doors, racks and other components made onsite. The plant produces five brands of dishwashers on the new lines. A key product success is the recently launched GE Profile™ UltraFresh System™ Dishwasher with Microban® Antimicrobial Technology, which is being added to other models produced at the plant.
Premium quality commercial glass washer and dishwasher
Whatever MEIKO small commercial dishwasher you choose for your bar or restaurant, you can be confident that it will be economical to run – and now the M-iClean has raised the bar even higher by using even less water, energy and detergentThe new generation of M-iClean U glass washers and dishwashers offers the full range of innovative warewashing technology in a compact and elegant design. We have kept the name but reworked everything else. It still has a GiO MODULE—but now it is completely integrated. That saves space and installation and maintenance costs. What about heat recovery? Yes, and now it is highly efficient. The MEIKO ComfortAir removes up to 80%* of steam for convenient and super-fast warewashing. And the hygiene? Top notch, of course. The fresh water circulates in a completely separate systemThe new M-iClean U undercounter dishwasher series sets new standards for speed, steam reduction and drying results. During the development process, engineers focused specifically on three features: heat recovery (new: ComfortAir), the reverse osmosis system (the GiO MODULE) and the display’s Private Label option. The result: The new M-iClean U commercial dishwasher boasts game-changing, unique selling propositions and represents added value for all of our customer segments Thanks to the new ComfortAir heat recovery system:
– no visible steam emitted
– excellent drying result – never polish again!
– 30 seconds* faster than the preceding model
– energy savings of up to 21%*
Thanks to the integrated GiO MODULE:
– no structural modifications required
– less space requirements as well as lower installation and maintenance costs
Miele wins the German Sustainability Award for the second time
Miele won the German Sustainability Award 2023 in the ‘Home Appliances’ category. The Gütersloh company had already obtained the award in 2014. The lifespan of its products, the attention to reducing the resources used in the production phase and the CO2 emissions during the use of household appliances together with the responsibility assumed towards of supply chains and employees earned Miele the jury’s recognition.
The German Sustainability Award recognizes companies from all industrial sectors that have achieved success on their long and arduous journey towards sustainability. Independent specialized juries decided on the basis of sustainability profiles which companies are leaders in 100 categories and identified them
Glen Dimplex announces proposals which would close Whiston factory
Operations at the Stoney Lane factory will cease under proposals put forward by the company.
Glen Dimplex says it plans to relocate production following a “comprehensive review” was carried out to ensure a “sustainable future” for the business.
The firm says it has proposed “significant changes to our UK business operations”. If the proposals go ahead, production at the Whiston site will cease and the factory will close. spokesperson for Glen Dimplex Home Appliances said: “We have had to make a difficult announcement to our staff and key stakeholders about our Prescot plant.
“Our proposals to relocate production come after a comprehensive review and are aimed at ensuring a sustainable future for the businessThis includes a proposal to relocate all production to leading international partners to leverage economies of scale and access latest technologies.
“If the proposals proceed, production at our Prescot manufacturing facility would cease, leading to the eventual closure of the site.”As well as being our manufacturing base for Lec Medical refrigeration products and Belling and Stoves cooking appliances, on-site departments at Prescot include payroll, supply chain, technical, administrative and support staff.
“As part of our strategy to lead the UK market we also plan to enhance our customer service offering, taking advantage of the latest consumer engagement technologies and extending field service coverage. We are in discussions with leading UK players in this area to establish the best solution for the business.
“In addition, we propose to simplify the organisational structure of our support functions to align with our revised operating model, and remaining staff would move to a new office facility in the area.
“Regrettably the proposal may lead to redundancies across affected functions. Our immediate priority and focus is our duty of care to colleagues whose roles cannot be moved to other UK businesses within the group and we will be doing everything we can to support them during this time.”
Arçelik warning
Arçelik, has warned that next year will be “very tough” for Europe’s home appliance market as persistently high energy prices and rising borrowing costs hit consumers.
Arçelik expected the European appliances market to shrink 5 per cent on a unit sales basis in 2024, said chief executive Hakan Bulgurlu. He added that the contraction could reach 10 per cent “if things go bad”.We’re predicting very, very low [economic] growth for Europe as a whole,” Bulgurlu said. He pointed to Germany as a particular weak spot, saying Europe’s economic powerhouse was “really slowing down”Arçelik’s revenue in Europe was steady at €787mn in the third quarter of this year compared with the same period in 2022.
Whirlpool Gains From Business Strength & Cost Cuts
Whirlpool Corporation has been benefiting from its focus on improving operational efficiency, strong consumer demand in Mexico and stabilized inventories. The company remains on track with its long-term targets, with profitable growth of 5-6% and ongoing EBIT margin expansion of 11%-12%.
Based in Benton Harbor, MI, Whirlpool currently carries a Zacks Rank #2 (Buy). It belongs to the Zacks Household Appliances industry, which comes under the ambit of the Zacks Consumer Discretionary sector.
Let’s delve into the factors that make investing in this home appliance manufacturer a smart choice at the moment.
Whirlpool remains well-positioned to benefit from the recovery in the U.S. homebuilding market, which is likely to boost its product demand going forward. Its focus on protecting its margins and productivity amid ongoing supply chain constraints and inflationary pressures bodes well.
For instance, it has implemented several cost-takeout actions, including curtailing structural and discretionary costs, capturing raw material deflation opportunities, effectively managing working capital and syncing supply chain and labor levels with demand.
Whirlpool launched a cost-takeout program worth $500 million that is likely to reduce fixed and variable costs in 2023. It has been actively pursuing its cost management actions and expects $800-$900 million related to gains from these measures and eased raw material inflation.
In April 2022, Whirlpool concluded the strategic review of Europe, the Middle East and Africa operations. The company’s major domestic appliance business in Europe will form a new entity with Arçelik. The deal is expected to close in the fourth quarter of 2023, subject to certain regulatory approvals. The new company is likely to generate more than €6 billion in annual sales and more than €200 million in cost synergies. While Arçelik will own 75% of the new entity, Whirlpool will retain the remaining stake.
The company also remains committed to rewarding its shareholders through dividend payouts and share buyback programs. In the first six months of 2023, the company returned $193 million in cash to shareholders as dividends. At the end of second-quarter 2023, it had $2.6 billion remaining as share repurchase authorization.However, the company has been experiencing a tough operating environment and tepid global demand amid high inflation. In the second quarter, the company’s net sales fell 6% to $4,792 million from the year-ago quarter. For 2023, Whirlpool expects net sales to be $19.4 billion, suggesting a 1-2% decline from the prior-year figure.
LG WashTower in Paris
To raise awareness for the LG WashTower™, which has been garnering increased popularity among European consumers, LG France set out to win the hearts of French consumers with a unique experience zone. On October 28, the company unveiled a giant structure in the shape of LG WashTower at Pompidou Centre in Paris, catching the eyes of Parisians and tourists alike. For one day, the general public was invited to discover the new design and advantages of the all-in-one laundry solution inside the 8-meter-high column created with realistic proportions and design.
Located in Beaubourg, one of the capital’s oldest districts and the beating heart of Paris since Medieval times, the Pompidou Centre is home to Europe’s largest collection of modern and contemporary art and an important cultural center for Parisians as well as tourists. With daily traffic in the area estimated at around 50,000 visitors a day, it was the perfect location to promote the new LG WashTower.
Upon entry, visitors were met by a model dressing room installed with an actual LG WashTower, showing consumers how the product can flawlessly blend in with home spaces while providing more information about the conveniences the product can provide. And, to provide a source of entertainment, the experience zone featured a game event, offering visitors an opportunity to win LG WashTower figurines created in partnership with famous German toy brand Playmobil.
LG also promoted Busan’s bid to host the World EXPO 2030, setting up banners in the area as part of efforts to highlight the beautiful port city as the best candidate to host the global event.
First introduced in France in July last year, the LG WashTower saw solid sales growth of 150 percent after the launch of its compact version in June this year. The new WashTower Compact is smaller than the 2019 version by 100 millimeters in width, 170 millimeters in depth and 235 millimeters in height, requiring less installation space than a stackable or side-by-side washer and dryer pair of the same laundry capacity. Thanks to its compact size, the LG WashTower has been highly praised by European consumers as a space-efficient solution that delivers greater convenience.
The company plans to further promote the WashTower globally, focusing on its sleek and minimal design as well as the exceptional performance and convenience it provides.
LG Neochef
LG Electronics presented the new microwave oven from the LG Neochef line (model MH6535GISA) with an ash blonde color. At a technological level, the Smart Inverter Technology keeps the microwave emission constant, guaranteeing a stable temperature and consequently homogeneous cooking. Furthermore, this technology defrosts food evenly and quickly. The oven has numerous programs such as grill cooking and the fermentation function which allows user to prepare yogurt. Finally, the new model, which offers 25 liters of capacity, is equipped with the LG Infrared Heating System which uses infrared light to obtain a higher temperature in less time
Home appliance giant Midea’s revenue up 7.7 percent in January-September
Midea Group saw its revenue rise 7.67 percent year on year in the first three quarters of 2023,The company realized a total net profit of 27.7 billion yuan during the period, up 13.27 percent year on year, according to the report.
In the third quarter alone, Midea Group achieved a revenue of 94.1 billion yuan, a year-on-year increase of 7.32 percent, and a net profit of 9.5 billion yuan, a year-on-year increase of 11.93 percent.
To date, the Fortune 500 company has 31 research and development centers and 40 major production bases worldwide.
Beko Egypt factory update
Beko Egypt, a subsidiary of Turkish white goods conglomerate Arçelik, will open its first factory in Egypt early 2024 instead of the fourth quarter of this year as previously announced.
The factory, located in the industrial city in the 10th of Ramadan area, spans an area of 114,000 square metres, and is being developed at total investment exceeding $100 million, according to the company’s press statement.
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