Appaloosa Capital has boosted its stake in Whirlpool to 5.5 million shares, now owning 9.8% of the company. Despite Whirlpool’s stock plunging 40% since July—hitting a 5½-year low—David Tepper’s move sparked a modest rebound, marking the first weekly gain in three weeks.
Whirlpool continues to face pressure from weak U.S. sales, shrinking margins, and rising debt, prompting a 48.6% dividend cut in July. Tepper’s bet suggests confidence in a turnaround, even as headwinds persist.
Tag Archives: Investment
Whirlpool Corporation Announces $300 Million Investment
The Michigan-based manufacturer, which started in the U.S. in 1911 and has stayed in the U.S. throughout its history, is preparing to ramp up production at two Ohio facilities.
Whirlpool Corporation today announced a planned $300 million investment in its U.S. laundry manufacturing facilities, one in a series of strategic commitments to grow its American manufacturing footprint. This investment is expected to create between 400 and 600 new jobs across the company’s operations in Clyde and Marion, Ohio, positioning Whirlpool Corp. for increased production of its next generation of washers and dryers, while also supporting approximately 5,000 additional jobs outside the company.
GE Appliances, $490 million investment.
GE Appliances, a Haier company, today announced a $490 million investment at its Louisville, Kentucky global headquarters and largest manufacturing site to create its most advanced manufacturing plant for production of clothes washers. The project will reshore production of the GE Profile™ UltraFast Combo Washer/Dryer and the GE® and GE Profile™ UltraFresh Front Load Washer line-up from China, creating 800 new, full-time jobs and cementing Kentucky’s position as a global hub for advanced appliance manufacturing. This investment positions the company to become the biggest American washer manufacturer, builds on GE Appliances’ 10-year, $3.5 billion investment in U.S. manufacturing, and reinforces its position as America’s #1 appliance company The new manufacturing lines will open in 2027. g
Frasers ups stake in AO
Frasers Group has increased its stake in electricals retailer AO World as it launches an £80m share repurchase programme.
The retail group said on Monday that it intends to buy back up to 10 million shares, worth 2% of the company, over the next 11 weeks to 28 April with support from investment banking group Deutsche Numis
Frasers continues its acquisition spree with the group increasing its holding in AO from 23.07% to 24.7% on Tuesday.
The retail empire first snapped up a 19% stake, worth £75m, in the Bolton-based online retailer back in June.
Frasers also holds shares in AO rival Currys, which it said was part of a “strategic investment” as it looks to increase its “foothold in the electricals industry”
Pacojet Group Takeover
Groupe SEB announces the acquisition of Pacojet Group, the must-have cooking appliance for chefs Founded in 1992, Pacojet is a Swiss company that has developed a unique emulsifier that can make ice creams 🍨, sorbets, sauces, mousses, fillings, purées and much more in less than 🍨 90 seconds. This revolutionary culinary appliance has been a favorite of chefs for 30 years! Groupe SEB is continuing its growth in the professional market. With the acquisition of Pacojet, Groupe SEB’s professional activity is thus enriched by a complementary offer of an iconic brand and products that meet the strong development ambitions in this segment. « We are delighted with the acquisition of Pacojet, which will enable Groupe SEB to continue to accelerate in the professional segment, a strategic market that is growing rapidly and profitably. Pacojet’s products complement our existing professional offer and enjoy an unrivalled reputation. They contribute to creating a true ecosystem for our customers. We look forward to welcoming the Pacojet team and pursue our ambition in the professional sector together »Thierry de La Tour d’Artaise, Chairman of Groupe SEB .
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