whirlpool are taking the most drastic steps in the shifting business by slashing production of its refrigerators, dish washers and other home appliances by more than a third to shrink inventories.
The company is among dozens of U.S.-based multinational companies confronting weakening consumer demand amid higher costs. Whirlpool says cutting production volume by 35% last quarter reduced inventories by $300 million.
The moves are among the many steps companies are taking to adjust to increasingly volatile consumer spending patterns. Household staples supplier Procter & Gamble is diversifying its production assortment to keep cash-crunched shoppers from switching to cheaper brands.
In its most recent quarter, higher commodity, materials and freight costs reduced P&G’s gross profit margin by 5.5 percentage points, which was fully offset by cost cuts and price increases.
Tag Archives: Whirlpool
Whirlpool opens factory in Argentina with $52 million investment
Whirlpool Corp is set to inaugurate a new factory in Buenos Aires after a $52 million investment, with plans to export more than 70% of the local production, Joao Carlos Brega, the firm’s Latin America chief, said.
The plant, which will employ some 400 workers, will produce 300,000 washing machines each year and export $50 million worth of products around Latin America, mainly to Brazil.
Whirlpool opens a reconditioning center for its appliances in Italy
Whirlpool has opened a center for the reconditioning of its appliances in Carinaro (Italy), within the Whirlpool EMEA spare parts and accessories logistics hub. After a careful process of repair and quality control, the products are put back on the market for sale. “Sustainability is at the heart of our culture and, at Whirlpool, we are committed every day to lead the sector towards increasingly sustainable practices. This year we have set ourselves even more challenging goals, with the commitment to spread a culture that supports sustainability, offering an innovative service for green purposes – says Paolo Lioy, CEO of Whirlpool Italy and Iberia -. It is for this reason that we have decided to open a reconditioning center for our appliances in Carinaro. The reconditioned products are subjected to a series of tests to guarantee 100% product quality”.
Whirlpool signs wind power purchase deal
Whirlpool ramps up its investments in renewable energy as the company signed Wednesday second wind virtual power purchase agreement in the off-site clean energy.
This latest agreement with ENGIE North America will represent 53 megawatts of clean, renewable wind energy over 12 years, which would mean removing about 30,633 gasoline-powered passenger vehicles from the roads each year.
“When this VPPA with ENGIE becomes fully operational in 2023, we expect to offset 100 percent of our U.S. plant electricity emissions,” noted management.
The move comes in line with company’s commitment to reach net zero emissions in its plants and operations by 2030.
Whirlpool/ Bauknecht: New managing director for Germany and Austria
Whirlpool Austria (and Germany) has had a new managing director since September 1st. Till Bickelmann, currently Head of Marketing Northern Europe and Head of Sales & Marketing DACH, has been promoted to Senior Director and is now in charge of the Austrian and German markets. In this function he will report to Jens-Christoph Bidlingmaier, VP Northern Europe Cluster
Whirlpool Cassinetta Plant
Whirlpool Corp.’s assembly plant CASSINETTA, Italy has become a zero waste to landfill facility a year ahead of schedule, and it reduced its carbon emissions by 38 percent in just four years. The appliance manufacturer is aiming for carbon neutrality at all of its 54 sites around the world by 2030.
Other sustainable improvements at the plant, which assembling ovens, refrigerators, and microwaves, including cutting electricity during breaks, recycling plastic, reducing the use of polystyrene, and opting for electric power over fossil fuels. Employing nearly 3,000 people, the plant sits in close proximity to 80 percent of its suppliers, reducing the carbon footprint needed to transport components and raw materials to the plant
Whirlpool to Buy Insinkerator Waste-Disposal Business in $3 Billion Deal
Whirlpool Corp. agreed to buy Insinkerator, Emerson Electric Co.’s Waste-disposal business, in a $3 billion transaction
InSinkErator, which has an over 70% market share in the food waste disposal industry, is a popular household name in the United States.
New supply chain director whirlpool UK
Whirlpool UK Appliances Limited, the home of Hotpoint, has announced the appointment of Alistair Dobson as Supply Chain Director, UK and Ireland. Having worked for Whirlpool UK in various roles of increasing responsibility for over two decades, Alistair brings a wealth of knowledge and experience of the domestic appliance industry to his new positionAlistair’s new position as Supply Chain Director will involve leading the company’s supply chain operations, including overseeing its commitment to creating a circular economy
Whirlpool new manufacturing site in Bangladesh
Whirlpool Corporation,and Transcom Group, one of the renowned business houses in Bangladesh, yesterday announced an agreement to set up a manufacturing plant in joint venture to make refrigerators in the country, The plant, spreading over approximately 85,000 square feet area, will manufacture a wide range of technologically advanced refrigerators for sale by Whirlpool and Transcom under their respective brands
New Whirlpool UK MD
Whirlpool UK Appliances Limited, the home of Hotpoint, has announced the appointment of Lena Henry as Managing Director, UK and Ireland.
Lena is a highly experienced Managing Director with expertise in leading complex business initiatives across a multitude of markets, both mature and emerging. Beginning her career at McKinsey & Company, a global management consultancy firm, Lena advised several leading and internationally recognised businesses on commercial and operational matters across a variety of product categories, with a focus on consumer and retail industries.
Lena then joined Essilor, the world leader in ophthalmic optics, where she worked her way through the ranks until taking on her most recent role with the company as Managing Director, Essilor France. During her time at Essilor, Lena oversaw corporate strategy, including the implementation of commercial initiatives, in addition to leading greenfield e-commerce launches on a global scale.
Combining a wealth of knowledge across a variety of markets, with experience across both consultancy and client-focused roles, Lena also brings a strong educational background to her new role at Whirlpool UK. In addition to receiving Bachelor’s and Master’s degrees in Engineering and Structural Engineering and Mechanics of Materials, Lena obtained an MBA in Business Administration from Harvard Business School.
Lena Henry, Managing Director, UK and Ireland, Whirlpool UK Appliances Limited says: “I’m incredibly proud to be embarking on and extending my career with Whirlpool UK, a company with an extremely strong heritage and an excellent portfolio of brands that are recognised across the world. My experience will enable me to build upon the tremendous work that the team is already undertaking, whilst furthering our commitment to consistently delivering outstanding customer care, as well as innovative new products that use resources sustainably. It’s a very exciting time ahead for Whirlpool UK and I look forward to leading the company’s plans for growth and continued success.”
