Haier proudly announces its role as Official Appliance Sponsor of the Davis Cup Finals 2024 tournament in Málaga, the prestigious World Cup of Tennis.
Marks Electrical profit fall
Marks Electrical Group plc (-13.7%) fell sharply after reporting a near halving of profits for the six months to 30 September, despite a 9.3% rise in sales. The company highlighted a 9% drop in average order value, as customers shifted to more affordable, non-premium products
Miele USA factory opens
Miele, the world’s leading manufacturer of premium domestic home appliances, has officially commenced production at its first-ever US-based production plant. Located in Opelika, Alabama, the facility has begun producing its Generation 7000 built-in ovens, designed specifically for the North American market.
This Opelika facility will produce appliances for the neighboring US, Canada and Mexico markets, which will greatly reduce the delivery time from weeks to just a few days, while also lowering the impact on the environment. This much improved turnaround time is important as the US market continues to be a key growth market for Miele.
“The facility is up and running as part of the first phase of development,” said Uwe Brunkhorst, Senior Vice President of the Business Unit Cooking at Miele. “We are especially pleased that despite the tight timeline, the team has achieved their goal and production has started ahead of schedule – the first oven has officially come off the assembly line.”
“Collaboration between the production sites in both Germany and the US together with the newly hired and thoroughly trained staff played a crucial role in this success,” said Ulf M. Kranz, Managing Director of the Opelika production plant in the United States.
The first American employees were trained at the Oelde plant in Germany, and those members of the team are now taking on both assembly tasks as well as the training of new colleagues in Opelika. The thirty-five person on-site team is growing exponentially and in the first phase, the plant is slated to employ up to 150 people.
Haier new induction hob
Two major innovations to the Haier Induction Hobs.
The new Matte Design combines performance and elegance. Its anti-scratch, anti-fingerprint surface seamlessly integrates with the discreet white user interface, creating a sophisticated kitchen environment.
The new Haier Hob ID Series 6, with its full-touch color screen, has even been nominated for the UX Design Awards, offering users an outstanding cooking experience.
Now you can steam and air fry your food at the same time!
Thanks to advanced technology, Electrolux have launched an air fryer that also steams – helping consumers to cook more sustainably and healthily in the home, whilst also saving them time. The Electrolux 800/AEG 8000/Ultimate Taste 700 Steam Air Fryer has four features:
▪ Air frying
▪ Steaming
▪ Air frying and steaming (combi)- the best of both worlds!
▪ Dehydrating
It is currently available in European markets, as well as Taiwan, Thailand, Korea and China. It will be available in Malaysia, Singapore, and Middle East and Northern and Central Africa later this year. The product will be rolled out in more markets next year.
Michelle Shi-Verdaasdonk appointed Chief Procurement Officer at Electrolux Gro
Michelle Shi-Verdaasdonk is joining Electrolux Group to take on the role of Chief Procurement Officer, responsible for the procurement strategy of direct and indirect materials, logistic services and product sourcing. She will report to Electrolux Group’s CEO and be part of Group management.
Shi-Verdaasdonk comes from Dyson, where her most recent position was Chief Supply Chain Officer, where she led the end-to-end supply chain of the Dyson global network
Wolf Appliance announces recall for dual fuel ranges due to burn, fire risks
Wolf Appliance is recalling around 44,000 of its Wolf Dual Fuel Ranges with infrared griddles in the U.S., as well as about 1,400 that were sold in Canada.
The recall was initiated over concerns the dual fuel ranges could short circuit in the event liquids were to boil over or spill on the griddle unexpectedly, posing a burn and fire hazard.
Where: The recall affects consumers in the USA and Canada
Electrolux financial challenges
Electrolux is facing significant financial challenges. The company’s total borrowing of SEK 40 billion is too high relative to its earnings, leading to concerns about small margins and high interest costs¹. If the market does not improve quickly, there is a substantial risk that Electrolux will need to carry out a new share issue. This could result in significant dilution for existing shareholders, as the company’s market capitalization is nearly equal to its net debt.
TCL Expands its Home Appliance Portfolio with New Line of Wine and Beverage Coolers
TCL®, one of the world’s best-selling television brands and leading technology companies, announced the launch of its new wine and beverage coolers today. TCL’s Retro-Inspired Beverage Cooler can chill 94 cans and brightens up any home entertainment space with its eye-catching colorful cabinet. The high performing beverage cooler is sleek, with minimalist touch controls and low-profile handles. TCL’s single zone beverage cooler also features Tri-Color LED interior illumination in red, white, and blue to personalize lighting preferences and freestanding installation so the refreshment center can be displayed anywhere. Modern elements were not spared on the new tech-inspired design. Its unique flexible arc cabinet has a handle that’s hidden but can be accessed easily when reaching for drinks, while the shelf bars and leveling legs allow for added stability.
The TCL Display Case Wine Cooler allows hosts to chill 18 bottles of wine and display their favorites at the same time, with a lower shelf that tilts forward to show the labels. Contemporary and timeless, the stainless steel door and adjustable shelving is as functional as it is fun. Its freestanding design allows consumers to place the wine cooler anywhere in the home for maximum versatility.
Both new models integrate must-have features for beverage enthusiasts, such as double paned UV glass on doors, personalized interior tri-color LED lighting and temperature controls that meet the needs of any category of beverage– whether they choose champagne bubbles or fizzy soda pop.
The new models join TCL’s Dual Zone Wine and Beverage Cooler which launched last year and is now expanding its availability
De’Longhi’s revenues and profits grow
De’Longhi ‘s earnings in 2024 will be even better than expected: the company has raised its guidance for the year, estimating revenue growth in the range of 11%-12% in 2024 versus the previous 9%-11%, with an adjusted EBITDA of between 540-550 million euros versus the 500-530 million previously expected.The group’s net profit for the first nine months was 173.8 million euros, equal to 7.8% of revenues, improving from 7.1% previously and with an increase of 22.2%. In addition, De’ Longhi generated a positive cash flow, before dividends and extraordinary transactions, of 35.6 million euros.
As of September 30, 2024, the Group’s net financial position was positive at 266.1 million euros
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