Christian Maeder, chief financial officer (CFO) of the Artemis Group and chairman of the Board of Directors of Franke Holding AG, will leave the Group in spring 2023 after eight years. The search for his successor as CFO of the Artemis Group has been initiated. The chairmanship of the Board of Directors of Franke Holding AG will be taken over by Alexander Pieper, currently Vice Chairman, as of spring 2023.
Alexander Pieper, vice chairman of the Board since 2019, knows the Franke Group well. Before becoming CEO of Swiss tool manufacturer Kraftwerk, he worked for 13 years at Franke in various management roles in Germany and abroad, such as managing director of the subsidiaries in the United Arab Emirates and the Philippines. In addition, he has been a member of the Board of Directors of Artemis Holding AG since 2015 and will be more involved in the Artemis Group in the future as part of the generation change.
Michael Pieper, owner and CEO of the Artemis Group, regrets the departure of Christian Maeder and expressly thanks him for his achievements in the various areas of responsibility in the Artemis Group as well as for the trustful cooperation. «As Chairman of the Board of Directors of Franke Holding AG – Pieper said – Christian Maeder was responsible for the strategic direction of the Group and drove it forward with confidence and foresight – thus making a significant contribution to the positive development of the company. I am delighted that my son Alexander is taking over as Chairman of the Board of Directors and wish him every success and satisfaction in his new role
Czech National Bank Makes New Investment in Whirlpool
Czech National Bank purchased a new position in shares of Whirlpool Co. in the third quarter, HoldingsChannel reports. The fund purchased 6,337 shares of the company’s stock, valued at approximately $854,000.
Several other large investors also recently made changes to their positions in WHR. Kensico Capital Management Corp acquired a new stake in shares of Whirlpool in the 2nd quarter valued at approximately $31,284,000. Alps Advisors Inc. acquired a new stake in shares of Whirlpool in the 2nd quarter valued at approximately $25,303,000. Renaissance Technologies LLC boosted its holdings in shares of Whirlpool by 168.9% in the 1st quarter. Renaissance Technologies LLC now owns 233,557 shares of the company’s stock valued at $40,354,000 after buying an additional 146,700 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Whirlpool by 21.6% in the 1st quarter. Invesco Ltd. now owns 754,474 shares of the company’s stock valued at $130,358,000 after buying an additional 134,251 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Whirlpool by 56.5% in the 2nd quarter. AQR Capital Management LLC now owns 271,579 shares of the company’s stock valued at $41,318,000 after buying an additional 98,086 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock
Whirlpool of India MD Vishal Bhola resigns
Whirlpool of India said that its managing director, Vishal Bhola, has decided to leave the company to pursue other interests.
Bhola will be relieved from the services of the company as managing director with effect from 3 April 2023.
Low carbon steel to be used in increasingly more homeappliances: BSH Hausgeräte GmbH and the Salzgitter Groupstep up of their collaboration
Low carbon steel to be used in increasingly more home
appliances: BSH Hausgeräte GmbH and the Salzgitter Group
step up of their collaboration
/ With a 95 percent lower carbon footprint in production,
green steel supports the decarbonization strategy of both
companies
/ Use of recycled steel scrap makes a valuable contribution to
the objective of the circular economy
/ Green steel will soon be used in a variety of BSH’s large
home appliances
Salzgitter and Munich, January 16, 2023. Europe’s largest home appliance manufacturer,
BSH Hausgeräte GmbH, is continuing to drive forward the decarbonization of its value
chain using materials produced in a climate-friendly way. A Memorandum of Understanding
was signed with Salzgitter Flachstahl GmbH – a subsidiary of Salzgitter AG – to source
green steel from a new production route from 2025. The steel will be produced by means of
the new hydrogen-based production route SALCOS® (Salzgitter Low CO2 Steelmaking).
This means that carbon emissions in production will be reduced gradually by some 95
percent by 2033.
BSH has already been sourcing initial quantities of green steel from Salzgitter Flachstahl GmbH
since 2021 with a reduction in the carbon footprint of more than 66 percent. This steel is already
being used to produce mounting brackets for washing machines in the BSH plant in Lodz in
Poland.
The home appliances manufacturer is now taking the next major step to significantly reduce
carbon emissions in its value chain. BSH and Salzgitter Flachstahl GmbH signed a Memorandum
of Understanding on January 13, 2023 which provides for large volumes of green steel from 2025
for the European market with increases each year.
What is special about this green steel is the new production process that Salzgitter AG intends to
use. Together with partners from business and research, Salzgitter AG has laid the foundations The key elements are electricity from renewable sources and its use to produce
hydrogen by means of electrolysis. The green hydrogen produced will replace coal, which is still
being used at present in the conventional blast furnace process. This is made possible by direct
reduction (DR) plants, involving the direct reduction of iron ore into iron in the solid state using
hydrogen as a reducing agent. Using this technology, steam is emitted instead of carbon dioxide.
SALCOS® is thus following the carbon direct avoidance strategy to avoid the generation of carbon
in steel production as early as the production stage. Salzgitter AG therefore intends to reduce its
carbon emissions overall by 95 percent. Phillip Meiser, Sales Director at Salzgitter Flachstahl
GmbH: “We are looking forward to growing the collaboration with BSH in such a pioneering way.
The transformation toward a climate-neutral economy can only succeed as part of a network of
strong partners, who ensure that the market for carbon-reduced steel products continues to grow
steadily.”
BSH’s development and manufacturing at all its locations worldwide have already been carbonneutral since 2020. And the company has set itself a further sustainability target for 2030: “We
intend to reduce our indirect scope 3 carbon emissions resulting from the purchase of raw
materials and parts and through use of home appliances by a further 15 percent compared with
2018. On the one hand, we therefore always offer our consumers products that are especially
energy efficient. On the other hand, however, we also closely examine how to improve processes
over which we have no direct control – for example, the production of materials that we use for our
appliances,” says BSH Chief Operating Officer Lars Schubert. “I am therefore very pleased that we
are decisively driving forward the reduction in carbon emissions in our value chain together with
the Salzgitter Group.”
In addition to reducing carbon emissions, another positive effect of the new production process is
that an even higher percentage of steel scrap is used. “The recycling of materials and appliances
is an important future issue for BSH in order to avoid wasting resources and generating waste,”
explains Lars Schubert. “Our goal is to be ready for a circular economy.” The company therefore
also increasingly offers circular business models in which home appliances are leased or used
communally. The appliances are taken back following use, reconditioned for re-use, and recycled
in an environmentally sound manner at the end of the product life cycle. This is also in line with the
Group strategy of Salzgitter AG in terms of focusing on the circular economy
Whirlpool to divest most of EMEA ops, form new entity with Turkey’s Arcelik
A new company is born where the whirlpool hold 25% and Arçelik 75%. To whom all activities in the Middle East and Africa go.Whirlpool: minority agreement with Arcelik (Beko) in Europe
Whirlpool Corporation has announced the completion of the strategic review of its business in Europe, the Middle East and Africa (EMEA) and the reaching of a definitive contribution agreement with Arçelik, which in the portfolio owns the Beko brand. Under the terms of the agreement, Whirlpool will contribute its European major appliances business and Arcelik will contribute its white goods, consumer electronics, air conditioning and small appliances businesses, to create a new business entity of which Whirlpool will own 25 % and Arcelik 75%.
Separately, Whirlpool has reached an agreement in principle, also with Arcelik, for the sale and transfer of its Middle East and Africa operations. Whirlpool will continue to own the assets of the EMEA KitchenAid small appliances business.
The combined entity is expected to achieve combined revenues of more than €6 billion and be well positioned to deliver value to consumers through attractive brands, sustainable manufacturing, product innovation and consumer services. The combined businesses are expected to generate cost synergies of more than €200 million.” “Today’s announcement marks another important and decisive milestone in our portfolio transformation,” said Marc Bitzer, president and chief executive officer of Whirlpool Corporation. business and cost synergies through our minority stake”.
The transaction is expected to close in the second half of 2023 and is subject to additional closing requirements, including obtaining regulatory approvals and other customary closing conditions. Whirlpool’s European business met criteria for accounting for sale during the fourth quarter of 2022. Until the closing of the transaction, Whirlpool’s European business will be included in the company’s results. In addition, Whirlpool will have no obligation to provide financing to the new company after the closing of the transaction.
LG Home Appliance Factory in United States Latest to Receive Prestigious ‘Lighthouse’ Status
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January 16, 2023
LG Home Appliance Factory in United States Latest to Receive Prestigious ‘Lighthouse’ Status
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LG Electronics Tennessee Plant is Selected as Industry’s First U.S.
Home Appliance Lighthouse Factory by World Economic Forum
LG Electronics’ (LG) home appliance manufacturing plant in the United States has been selected as a world-leading Lighthouse Factory by the .World Economic Forum (WEF)
The million-square-foot factory in Clarksville, Tennessee – the U.S. production base for LG’s award-winning washers and dryers – is the industry’s first home appliance plant in the United States to join the WEF’s global network. Also, it is the company’s second Lighthouse Factory, following on the heels of the LG Smart Park in Changwon, South Korea, which was selected by the WEF last year.
A “Lighthouse Factory” is recognized by the WEF for its role in shaping the future of manufacturing through the integration of Internet of Things (IoT), big data, artificial intelligence (AI), robots and other Fourth Industrial Revolution technologies. Since 2018, the WEF has selected and added global factories to its network twice a year.
LG’s world-class autonomous factory in Tennessee utilizes advanced digital technologies from AI and big data to IoT and robots. Completed at the end of 2018, the facility now operates three production lines for front-load and top-load washing machines and dryers. With an annual production capacity of 1.2 million washers and 600,000 dryers, the plant proactively responds to changing North American demand through local production. More than 900 people work at the LG home appliance factory in Montgomery County, Tenn.
Featuring a complete integrated production system streamlined process to supply impeccable products to customers on time, each line carries out the entire manufacturing process of new models from making the parts to assembly and packaging. In addition, strict quality conditions are applied to all the assembly lines to heighten quality across the board, from parts to finished products.
The LG Tennessee factory boasts a fully autonomous logistics system with 166 automated guided vehicles (AGVs) that transport parts around the plant. With three times more AGVs than the LG Smart Park, these robots improve overall productivity by freeing up people for other tasks.
With the integration of parts production such as metal press processing, plastic injection molding, and painting – including LG’s own intelligent injection molding system – the company has increased component productivity by 21 percent.1 In addition, the plant recognizes and responds in advance to potential productivity issues through an advanced detection system. By applying data-based AI technology that accurately predicts washing machine performance, the number of tests and energy consumed during testing are reduced by 22 percent, while the defect rate has been reduced by more than 61 percent via quality optimization.2
The plant is also maximizing workplace safety and operational efficiency by using robots for complicated, potentially dangerous tasks, such as assembling and lifting heavy parts and welding.
To further improve efficiency, LG plans to establish a 5G connectivity network across the facility in the second half of this year, creating an environment where its many AGVs can transport materials faster and more accurately based on stable, uninterrupted communication. LG will also introduce Autonomous Mobile Robots that navigate the expansive facility with ease to enhance its logistics system.
LG’s commitment to sustainability can be seen throughout the Tennessee factory, which transitioned to renewable energy completely already in 2022. The plant also uses a high-efficiency utility infrastructure, which supplies the power, steam and heat necessary to produce LG’s home appliance products with the help of the company’s advanced Building Energy Control (BECON) solution.
“Along with the LG Smart Park, LG’s Tennessee factory represents our unmatched leadership in transforming manufacturing facilities into advanced, futuristic hubs utilizing the most revolutionary technologies,” said Lyu Jae-cheol, president of the LG Electronics Home Appliance & Air Solution Company. “Lighthouse Factory status exemplifies how LG continues to strive for providing differentiated customer experiences through customized manufacturing innovations
Electrolux loses €180 million in the fourth quarter
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.
Liebherr @KBIS
Liebherr Appliances has been pushing the limits of technology, efficiency and design. With the debut of the newest models within the freestanding collection, Liebherr is once again showcasing its revolutionary technology and expertise within the refrigeration and freezing appliance category
Under its initiative of “shaping the future of freshness,” Liebherr’s products are geared towards achieving a more sustainable future. The new appliances have been developed with a goal of achieving high levels of energy efficiency, longer service life and reducing food waste through BioFresh technology, which keeps food fresher for longer than ever before. Liebherr will be unveiling the new products at the 2023 Kitchen & Bath Industry Show from January 31st to February 2nd, 2023 in Las Vegas.
“Liebherr is proud to be expanding the product portfolio for North America,” said Alex Squarize, Divisional Director of Liebherr Americas, Appliance Division. “We look forward to showcasing our latest novelties at KBIS. These demonstrate the very best in food preservation while wrapped in European style design.”
This year, Liebherr is showcasing the latest in technology within the newest models at KBIS:BioFresh Professional, an enhanced version of BioFresh, offers a wider temperature range keeping food fresher, longer. Through customized temperature selection, specially designed for delicate items like fish and seafood.
HydroBreeze creates a cool mist each time the door is opened to coat vegetables with a layer of protection, similar to your favorite local grocery store.
VarioTemp allows the freezer compartment to be converted to refrigeration, increasing capacity as needed, offering a wide temperature range from 28°F to 57°F, creating the ideal climate for preserving a range of items from seafood to root vegetables such as potatoes.
Two of the most exciting newest products from Liebherr can be installed side by side:
Peak Series All Refrigerator (SRB5290) include: BioFresh with HydroBreeze, LightTower, InfinitySpring split glass shelf and integrated bottle rack.
Peak Series All Freezer (SF5291) include: the SoftSystem smooth-closing mechanism, LED freezer and the design-friendly IceTower, offering easy and convenient access to large storage capacity iceAdditionally, to the freestanding new models, Liebherr is also introducing 2 new products and further expanding the fully integrated line.
Prime Series All Refrigerator (IRB5160) include: BioFresh, telescopic rails, LightTower, split glass shelf and integrated bottle rack.
Peak Series All Freezer (SIF5181) include: the SoftSystem smooth-closing mechanism, LED freezer and the design-friendly IceTower, offering easy and convenient access to ice
Beko, ranked 17th in The Real Leaders
Beko has been ranked 17th in The Real Leaders Top 300 Impact Companies of 2023 ranking. The Real Leaders Impact Awards are annual awards that recognize companies that are driving a positive impact on the environment, while achieving significant business growth.
Through the motto “a healthy life is only possible on a healthy planet”, Beko is a company focused on empowering the new generations so that they can live a healthier life, knowing that it is only possible on a healthy planet, with an existence more sustainable. Beko’s ranking on The Real Leaders list demonstrates that the company’s commitment to sustainability is aligned with its mission. And it is that Beko strives every day to encourage others with its sustainable business practices.
Sustainable practices are part of Beko’s DNA. In 2022, his parent company, Arçelik, was recognized by the World Economic Forum (WEF); and its Ulmi plant, in Romania, awarded Sustainability Lighthouse status for its implementation and use of state-of-the-art technology to improve energy and water efficiency. This achievement makes it one of ten Sustainability Lighthouse centers in the Global Lighthouse Network and demonstrates the company’s leadership in lean and sustainable manufacturing.
Throughout 2022, Beko has placed innovation at the heart of its sustainable development. With the global launch of AquaTech®, the brand has been able to demonstrate how high-quality performance and sustainable technology can co-exist in consumers’ homes, offering up to30% less energy consumption than the class limit. energetic a.
Launched in September 2022, Beko’s SaveWater technology continued this trend of continuous innovation for more sustainable technology.
In the words of Hakan Bulgurlu, CEO of Arçelik, Beko’s parent company: “We are honored to be recognized as one of The Real Leaders 300 Most Impactful Companies of 2023. As a global company, we believe we have a responsibility to promote sustainability in every way possible, from the technologies we develop to our production methods, partners and supply chains.”
Arçelik, Beko’s parent company, is ranked 16th in The Real Leaders®️ Top 300 Impact Companies of 2023
Samsung Electronics Launches Bespoke Infinite Line: A New Column Refrigerator Combining Timeless Design with Ultimate Performance
Samsung Electronics Co., Ltd. announced the launch of Bespoke Infinite Line in several countries around the world. It is a premium built-in line consisting of a fridge, freezer and wine cooler and offers premium materials, practical functions and great storage flexibility to adapt to your all lifestyles. Its modular design and its timeless and contemporary design allow it to fit into any interior while optimizing food storage thanks to its advanced features.
“Each model in the Bespoke range opens up new customization possibilities for more users ,” said Jun Hwa Lee, Executive Vice President and Director of Customer Experience Department, Digital Devices, Samsung Electronics. ” With its premium materials and modular design, the Bespoke Infinite Line brings Samsung’s signature personalization approach to premium appliances, delivering the ultimate combination of elegance and performance” .
A timeless design
The Infinite design stands out for its harmonious style, the solidity of its materials, its high-end finishes and the elegance of the elements that compose it.
Like other refrigerators in the Bespoke range, the Bespoke Infinite Line refrigerator features a modular design, and can be combined with other models to meet changing consumer needs. The Infinite design reinforces this modularity while maintaining the elegance of the refrigerator, whatever the user’s expectations. The exterior of the refrigerator is made of high quality aluminum, for increased resistance to shocks and scratches while allowing easy wiping of marks on its surface. The interior, bright and neat, has the Black Metal Cooling finish and Tunnel Lightning lighting , thus combining aesthetics and practicality.
Applied to the door and the air duct, the Black Metal Cooling system creates an impression of depth with a decidedly premium look, but also helps keep food fresher longer by quickly returning the cold to the cavity after an opening of door. The Tunnel Lightning lighting on the frame and shelves enhances the appliance while allowing you to clearly see every corner of the refrigerator.
The fridge and freezer offer a combined capacity of 805 liters , while the wine cellar can store up to 101 bottles.
Many features
The new Auto Open Door has a side sensor that instantly opens the door with just a touch . The front of the refrigerator is thus devoid of handle and sports a sleek and sophisticated design.
The AutoFill Pitcher is BPA5 free and dishwasher safe . It easily offers fresh filtered water at any time. The device also has an integrated infuser to create flavored drinks by adding fruit or infusions. Finally, users can have ice at any time thanks to the Dual Auto Ice Maker , which offers a choice of spherical or cubic ice cubes.
Optimal freshness
Thanks to the different storage options offered by the Bespoke Infinite Line, users can store different types of food in optimal conditions, in order to preserve all their flavor and freshness.
The temperature-controlled Flex Pantry drawer allows for quick switching from one pre-set temperature to another according to users’ daily needs. The two preset temperature modes are ideal for preserving a wide range of foods (meat, fish, fruit and vegetables), preserving their natural flavors and textures for longer.
The multifunction wine cellar provides the same level of freshness suitable for storing wine. Equipped with three distinct zones and precise temperature controls, it offers the possibility of simultaneously storing different bottles in ideal conditions.
A line that pushes connectivity to the limit
Connected, this line is childishly easy to use, from storing wine to monitoring electricity consumption.
The SmartThings Sommelier at Home feature simplifies wine storage by analyzing bottle labels and providing information on the best storage conditions. Combined with SmartThings Cooking , it offers the ideal food and wine pairing, just like a real sommelier .
Additionally, with SmartThings Energy , users can track their refrigerator’s power consumption in real time and receive tips on how to limit their carbon footprint and save money.
The AI Energy mode allows you to go even further by analyzing usage patterns and other factors to optimize the various parameters of the refrigerator and thus achieve energy savings.
WHITEGOODSNOW 