Moulinex Steam’up

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Moulinex launches the new Steam’up, available from today on the French market. It is new and simple solution to prepare everyday dishes. It features an innovative, patented technology which directs the steam downwards so that all the ingredients can be cooked at the same time in a single 16-28 cm dish: the flavors of the meat and fish mingle delicately with those of the vegetables.
Steam’up is also easy to use, thanks to its automatic programs.
“By mixing flavors during cooking – they say from the company – this product is pioneering a new style of steaming producing richer, tastier dishes. The appliance comes with a 30-recipe booklet and consumers can get further inspiration from 70 other recipes available on line.»
Finally, at the end of the use the appliance only needs to be wiped with a damp sponge after use as it does not come into contact with the food. Steam’up is characterized by a compact design, that makes it easy to be stored.

Galanz ToastWave Frozen food comes out crispy

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Galanz ToastWave four-in-one countertop appliance with air fry, convection bake, toast and microwave

Why we like it: Everyone uses a microwave to reheat or thaw out food. But what if you could nuke a piece of frozen food and have it come out nicely browned as if it were cooked in an oven? Galanz ToastWave, which says it will defrost and cook with the combined speed of a microwave and a convection oven in one space-saving appliance

Arçelik continues to expand its footprint in Asia-Pacific,

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Arçelik continues to expand its footprint in Asia-Pacific, announcing the acquisition of Retail Holdings Bhold BV which is the majority shareholder of Singer Bangladesh, one of the leading home appliances retailers and manufacturers in Bangladesh for $75 million

Founded in 1905 and headquartered in Dhaka, Singer Bangladesh has an extensive product portfolio, ranging from refrigerators to washing machines, televisions to air conditioners. It has top two positions in major product groups as well as the largest retail distribution network in Bangladesh appliance market. Singer Bangladesh has 1,507 employees and it reported 2018 revenues of $164 million. Singer Bangladesh’s reported EBITDA and net income are $20 million (12.4%) and $11 million (6.7%) respectively.

Arçelik has been intensively growing in Asia-Pacific in the last decade with greenfield investments in China, Thailand, Pakistan, and India in a bid to establish a trade corridor along the historical Silk Road.

Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu said: “This acquisition is another significant step on our Silk Road strategy. Bangladesh is one of the fastest-growing economies in the world, and it will further accelerate in the medium to long term. The market offers huge potential with its expanding middle class and young population. We will combine our global expertise, scale and knowledge with the strong market position of Singer Bangladesh equipped with its strong brand image, for further product developments to grasp the local market needs.”

Arçelik CEO Hakan Bulgurlu said; “Over the next decade, the growth in our industry will come from Asia-Pacific. Singer Bangladesh is a strategic fit for us, and this deal is a unique opportunity to invest in Bangladesh, a market which holds a great untapped potential. Singer Bangladesh has a strong brand heritage, extensive retail network, and a talented management team. We will continue to build on these strengths by pushing new boundaries and creating strong synergies across retail management, production, purchasing and product sourcing. Our mid-term target is to become the market leader in the major product groups

Arçelik to Acquire Singer Bangladesh Operations for $75 Million
Arcelik Logo (PRNewsfoto/Arcelik)
NEWS PROVIDED BY

Arçelik
22 Mar, 2019, 14:53 GMT

Arçelik continues to expand its footprint in Asia-Pacific, announcing the acquisition of Retail Holdings Bhold BV which is the majority shareholder of Singer Bangladesh, one of the leading home appliances retailers and manufacturers in Bangladesh for $75 million

The deal is key to Arçelik’s strategy of creating a continuous and strong presence along the historical Silk Road

ISTANBUL, March 22, 2019 /PRNewswire/ — Arçelik (IST: ARCLK), a leading player in the home appliances industry, has signed an agreement to acquire Retail Holdings Bhold BV which has a majority stake in Singer Bangladesh Limited (SINGERBD), one of the leading home appliance retailers and manufacturers in Bangladesh, to expand its foothold further in Asia-Pacific. Under the agreement, Arçelik’s wholly owned subsidiary Ardutch B.V., will acquire Retail Holdings B.V., the company that controls 57 percent of Singer Bangladesh shares in a deal worth of $75 million.

Arçelik CFO Polat Şen, Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu, Arçelik CEO Hakan Bulgurlu (PRNewsfoto/Arçelik)
Arçelik CFO Polat Şen, Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu, Arçelik CEO Hakan Bulgurlu (PRNewsfoto/Arçelik)
Founded in 1905 and headquartered in Dhaka, Singer Bangladesh has an extensive product portfolio, ranging from refrigerators to washing machines, televisions to air conditioners. It has top two positions in major product groups as well as the largest retail distribution network in Bangladesh appliance market. Singer Bangladesh has 1,507 employees and it reported 2018 revenues of $164 million. Singer Bangladesh’s reported EBITDA and net income are $20 million (12.4%) and $11 million (6.7%) respectively.

Arçelik has been intensively growing in Asia-Pacific in the last decade with greenfield investments in China, Thailand, Pakistan, and India in a bid to establish a trade corridor along the historical Silk Road.

Koç Holding Consumer Durables Group President Fatih Kemal Ebiçlioğlu said: “This acquisition is another significant step on our Silk Road strategy. Bangladesh is one of the fastest-growing economies in the world, and it will further accelerate in the medium to long term. The market offers huge potential with its expanding middle class and young population. We will combine our global expertise, scale and knowledge with the strong market position of Singer Bangladesh equipped with its strong brand image, for further product developments to grasp the local market needs.”

Arçelik CEO Hakan Bulgurlu said; “Over the next decade, the growth in our industry will come from Asia-Pacific. Singer Bangladesh is a strategic fit for us, and this deal is a unique opportunity to invest in Bangladesh, a market which holds a great untapped potential. Singer Bangladesh has a strong brand heritage, extensive retail network, and a talented management team. We will continue to build on these strengths by pushing new boundaries and creating strong synergies across retail management, production, purchasing and product sourcing. Our mid-term target is to become the market leader in the major product groups.”

Stephen H. Goodman, Retail Holdings Chairman, President and CEO, noted “The Singer Bangladesh business will benefit significantly from the sale as Arçelik is a much larger and financially much stronger company, with a commitment to and a world-wide reputation in the home appliance sector. Following the sale, Singer Bangladesh will continue to have a royalty-bearing license from SVP Worldwide, the owner of the Singer trademark, to use “Singer” in the company name and the “Singer” brand on its stores, products and services.”

ABOUT ARÇELİK
Founded in 1955 Arçelik has operations in the durable consumer goods industry with production, marketing and after-sales services, Arçelik offers products and services in 146 countries with its 30,000 employees, 21 different production facilities in 8 countries (Turkey, Romania, Russia, China, South Africa, Thailand, Pakistan and India), 34 sales and marketing companies all over the world and 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Dawlance, Voltas Beko and Altus). Arçelik is listed on Istanbul Stock Exchange.

AHAM

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AHAM, the North American Association of Home Appliances Manufacturer, will held its annual meeting from 27 to 30 April in Washington. The event will be an important occasion for the home appliances player to meet and discuss the current trends of the sector. Many managers and big names of the industry will attendee the meeting as speakers, such as John Taylor, Senior Vice President, Public Affairs and Communications of LG Electronics USA; Jim Estill, President & CEO of Danby Appliances; Kevin Nolan, President & Chief Executive Officer of GE Appliances, a Haier company; Dean Schwartz, Merchandising Vice President – Home Appliances of Lowe’s; Linda Menghetti Dempsey of National Association of Manufacturers. In addition, some representatives of the U.S. Government, of the U.S. Chamber of Commerce will also be present as speakers, as well as representatives of the National Institute of Standards and Technology, Consumer Product Safety Commission and Office of Energy Efficiency and Renewable Energy that will discuss all these relevant themes for the home appliances sector development in the United States and globally. During the meeting will also be assigned some awards and recognitions, such as the Chairman’s Partnership Awards, the Emerging Leader Award, the Gordon Stauffer and Liston Durden Distinguished Service Award and the Home Appliance Industry Leadership Award.

De Longhi launches new products

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De’Longhi has just launched innovations in all its brands ( De’Longhi , Braun and Kenwood ), aimed at making life easier for consumers and with the common denominator of innovation.

De’Longhi has presented the Lattissima One coffee machine in black. This Nespresso capsule coffee machine features an integrated milk tank that automatically recognizes the amount of milk needed in the jar to prepare cappuccinos or other combinations at the touch of a button. It has also renewed its range of dehumidifiers, with three models with ecological gas R290. Apart from removing excess moisture, they have a clothes drying function and improve air quality. This gas is also present in the two new portable air conditioning models: the PAC N90 Eco Silent and the PAC AN98 ECO Real Feel.

Kenwood, meanwhile, launches two new accessories compatible with the kitchen robots of the Chef and kMix range: the Pure Juice KAX720PL and the Spiralizer KAX700PL. With the first, you can prepare juices easily with all the nutrients and vitamins of fruits and vegetables. The Spiralizer KAX700PL converts fruit and vegetables into spaghetti of different thicknesses.

Finally, Braun launches two new black and white blenders, the SJ3100. In the category of ironing centers, it relaunches the CareStyle 5 in black and white (IS 5145) with important improvements like the FreeGlide 3D sole, which allows ironing on any fabric and obstacle even backwards.

Whirlpool and its commitment to energy efficiency in its appliances

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Whirlpool’s goal is to improve the lives of consumers by causing the least possible environmental impact in the use of their appliances. For this purpose, in 2014, it established four global sustainability objectives: energy efficiency, water efficiency, zero waste and material transparency. Through accelerated projects and acquisition synergies, the company exceeded the 15% energy efficiency and water targets three years earlier.

According to Niccolò Pietrucci, marketing director of Whirlpool Spain, “for Whirlpool energy efficiency is a daily commitment” and, under this principle, “Whirlpool has developed products with the highest energy efficiency standards”.

A clear example are the dishwashers with Power Clean, awarded this year with the Product of the Year, and that have the A +++ label on many of their models. Some of them also have the Power Dry function, which allows washing and drying the dishes in just one hour.

These dishwashers also incorporate EcoFriendly 6th Sense ™ technology, which offers low water and energy consumption.

Sabaf

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Sabaf S.p.A. is a company that produces components for household cooking appliances. Founded in 1949, today it has more than 650 employees and 5 manufacturing sites in Italy, Brazil, Turkey and China.

The production includes taps, thermostats and burners for gas appliances. In 2001 it took over Faringosi Hinges, an Italian company specialized in the production of hinges for household appliances.

The company invests about 3% of its annual turnover in research and development. The design and development of new products complies with the need to create increasingly safer components that permit to reduce atmospheric pollution and to save energy both during the production and the use by the final user.

Characterized by a strong vertical integration, the Company also manufactures the machinery necessary to produce and assemble its products, thus obtaining maximum optimization in both processes.

Sabaf has been listed on the Milan Stock Exchange

Sabaf totalled a revenue of €150.6 million, up by 0.3% over the same period of 2017 (-2.4% taking into consideration the same scope of consolidation). EBITDA was €30 million (or 19.9% of sales), down by 3.2%, EBIT totalled €16.4 million (or 10.9% of sales) down by 9.4%, and the net profit owned by the Group was €15.6 million, up by 5.3% compared to 2017. The tax rate in 2018 was 24.6%, compared to 16.2% in 2017.
During the fourth quarter of 2018, the worsening of the European and Middle Eastern macroeconomic scenario, only partially offset by the positive tone of the North American market, led to a slowdown in the Group’s sales: during the period, sales revenue totalled €36.2 million, 3.3% lower than the €37.4 million of the fourth quarter of 2017 (-11.7% taking into consideration the same scope of consolidation). The markets most affected by the deterioration of the economic situation were Italy, Turkey and the Middle East. On the contrary, sales in North America maintained a growth rate of around 20%. EBITDA for the fourth quarter of 2018 was €7 million, or 19.5% of sales, up by 2.8% compared to the figure of €6.9 million (18.3% of sales) in the fourth quarter of 2017. EBIT was €2.8 million, equivalent to 7.9% of sales, and 23% lower than the €3.7 million recorded in the same quarter of 2017 (9.9% of sales). During the quarter, the Group recorded in the income statement positive exchange differences of €1.6 million, due to fluctuations in exchange rates with the Turkish lira and the U.S. dollar. Profit before taxes was €4.1 million, up by 16.5% compared to the €3.6 million recorded in Q4 2017. Net profit for the period was €3.2 million, down 29.6% from €4.6 million in the fourth quarter of 2017, when the Group recorded tax benefits of €1.3 million.
Based on the trend in negotiations with major customers and the current limited visibility in a still complex market context, for 2019 the Group estimates that it will be able to achieve sales ranging from €160 to €165 million and a gross operating profitability (EBITDA %) of more than 20%. “Confirming the Group’s more than solid competitive position, Sabaf achieved significant financial results in line with the company’s historical trends in a year characterised by a widespread macroeconomic deterioration, that became more evident in the last quarter – Pietro Iotti, Chief Executive Officer of Sabaf, declared -. During 2018, the acquisition of Okida Elektronic was the first step in the strategy of developing and diversifying the product range and enhanced the Group’s interesting growth prospects.

Gorenje WaveActive

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Two significant recognition were assigned to Gorenje for its WaveActive washing machine and dryer. These products won a Plus X Award 2018/2019 and excel in German consumer tests.
The Plus X Award is given companies for innovation and brand excellence. The same range was also tested in the January issue of the German consumer magazine ETM Testmagazin, specializing in independent product testing. In the detailed test and evaluation, both appliances exceeded the score of 90%, and the ETM Testmagazin therefore recommends them to consumers as economical and, owing to the use of new ionization technologies, highly efficient appliances.
Gorenje WaveActive dryer with an 8-kg load scored 92.9% and the grade “very good” (“sehr gut”), which is the highest grade an appliance can win in such tests. Among the reasons of this grade, the expert panel underline the precision manufacturing, stability, simple controls and maintenance, advanced programs, and remarkable drying efficiency paired with the A+++ energy efficiency rating. The testers singled out the IonRefresh program that uses ions to efficiently eliminate odours from the laundry to refresh it without washing. The ETM Magazin also tested the washing machine of the new Gorenje WaveActive generation, with an 8-kg load capacity, launched in the markets in last April. The washing machines strengths highlighted in the test include the EcoCare functions that allow additional savings of energy and water with every program, TimeCare that offers a faster wash, and DoseAid that recommends the optimum amount of detergent based on the selected washing settings.