Beko Europe in Italy

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Beko Europe’s Meeting with Italian Social Partners: A Disappointing Update
On November 7th, a long-awaited meeting took place at the Ministry of Industry and Made in Italy in Rome. The meeting, attended by Beko Europe CEO Ragip Balcioglu, was intended to address the company’s operational challenges in Italy. However, the outcome was far from positive.
During the meeting, Beko Europe outlined several significant issues impacting its Italian operations:
* Weakened Consumer Demand: A notable slowdown in consumer demand across Europe has negatively affected the company’s sales.
* Intensified Competition: Increased competition from Asian market players has further eroded Beko Europe’s market position.
* Negative Business Performance: Despite substantial historical investments, the company has experienced negative business performance.
* Structural Overcapacity: Italy’s manufacturing facilities are facing challenges due to structural overcapacity.
These factors have collectively created a challenging environment for Beko Europe’s Italian operations. The meeting with social partners aimed to discuss potential solutions and strategies to mitigate these issues. However, the specific details of the discussions and any proposed solutions have not been publicly disclosed.
As the company navigates these turbulent times, it remains to be seen how Beko Europe will adapt to the changing market dynamics and ensure the sustainability of its Italian operations.officially announced the closure of factories in Poland and the group’s only plant in the United Kingdom, the spotlight is now on Italy where Beko has 4,400 employees, exceeding 5,000 with temporary workers.the historic refrigeration line in Cassinetta di Briandronno (but not the line dedicated to built-in ovens and microwaves); the entire Siena plant (dedicated to the little-selling category of chest freezers) and the Comunanza site engaged in the production of washing machines and washer-dryers, also produced in Beko’s plants in Turkey and in what until the merger was Beko’s only industrial presence in Europe: the Ulmi plant.
In total, according to press sources that followed the event, at least 1,000 jobs are at risk among the 4,400 employees in Italy, excluding temporary workers.

LG food waste disposer

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LG Electronics will foray into the food waste disposer market in the first quarter of 2025, heralding a shake-up in the sector led by small electronics companies, according to industry sources on Monday.

The South Korean household name is set to become the first electronics giant to enter the market as it expands its mass-market product lineup to cope with Chinese rivals’ product diversification.

In August, LG Electronics collaborated with the city of Ansan in Gyeonggi Province to test its food waste disposers on 40 households in a pilot project.

Its food disposers will be built into the kitchen sink and decompose food through microbial fermentation. LG is also considering selling the products on a subscription basis.
The device drains the water from the food waste down the sink drain and then ferments and dries it. No food powder or debris are discharged into the sewage system, so there is little chance of water pollution, sewer pipe blockage or backflow

LG professional laundry

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LG Electronics (LG) is showcasing its PROFESSIONAL LAUNDRY lineup at Texcare International 2024, a global B2B laundry and textile care exhibition, held in Frankfurt, Germany, from November 6-9. Prioritizing energy efficiency, the new lineup features a variety of large-capacity solutions, including 30-kilogram washers and dryers, as well as a washer-dryer combo with heat pump, offering a maximum capacity of 25 kilograms for washing and 16 kilograms for drying. With the launch of its PROFESSIONAL LAUNDRY lineup, LG aims to strengthen its position in the commercial laundry market, both in Europe and worldwide.LG’s PROFESSIONAL LAUNDRY lineup boasts outstanding durability. The new washers feature the company’s Ball Balancing System, which supports a maximum spin speed of 1,100 RPM and enhances stability during high-speed washing cycles. The 25-kilogram washer-dryer combo stands out as one of the largest models in the heat pump combo category and is the industry’s first commercial combo to employ an inverter heat pump drying module. This proprietary technology significantly reduces drying times and boosts energy efficiency. Ideal for businesses with high laundry demands, such as hotels and care facilities, LG’s impressive heat pump combo represents a reliable, energy-efficient alternative to traditional gas and electric dryers

Turkish home appliance manufacturers express concerns

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The Turkish White Goods Manufacturers Association (TÜRKBESD) has raised alarms about the potential repercussions of ongoing anti-dumping investigations on essential materials such as stainless steel and sheet metal. These investigations could lead to increased production costs and inflation.

Taxes on crucial materials, including stainless steel, sheet metal, and polystyrene, which constitute 17-18% of production costs, might elevate product prices by 5% and diminish international competitiveness.

This scenario could shrink Turkish manufacturers’ global market share and export capacity. In September, Turkey’s domestic white goods market experienced a 15% decline

How to Successfully Export and Sell Made in Italy Household Appliances in China

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Exporting and selling Made inItaly household appliances in China, the world’s home appliance factory, is no small feat. Yet, Fulgor Milano has achieved this with 70 large showrooms in the most luxurious malls across China—a record for foreign brands. This success story is a testament to the unique craftsmanship of Italian cooking, combined with cutting-edge technologies like IoT, Industry 4.0, and AI.

Fulgor Milano, a brand with a rich tradition, was practically unknown until its relaunch in 2009 by Venetian entrepreneur Gianni Meneghetti. Known internationally, Meneghetti transformed the brand, leveraging his decades of experience as the top subcontractor for built-in cooking appliances. His company, based in Rosà, Vicenza, has been a key supplier of high-end hobs, ovens, and kitchens to luxury brands in North America.

Meneghetti prefers not to be associated with outsourcing, but his approach differs significantly from typical OEMs. He supplies premium products to exclusive brands like Viking and General Electric (o, driven by popular demand. The Fulgor Milano brand, rich with numerous patents, continues to expand globally, offering premium and medium-high range appliances. Whether gas or induction, Meneghetti remains a symbol of traditional cooking excellence.

Vanguard investment in Whirlpool

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Vanguard Group Inc, a prominent investment firm, expanded its portfolio by acquiring an additional 25,958 shares of Whirlpool Corp  a leading home appliance manufacturer. This transaction increased Vanguard’s total holdings in Whirlpool to 5,502,792 shares, reflecting a significant investment at a trade price of $107 per share. This move is part of Vanguard’s ongoing strategy to diversify and strengthen its investment portfolio