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The news is whirlpool is buying 60 percent of indesit shares. All the family’s shares from the looks of it. This will also trigger the mandatory bid for all remaining shares on the stock market. If successful indesit would be a whole owned subsidiary of whirlpool corp.
Interesting they are swallowing it whole. Some huge changes to come for the former Italian company.
Re: Indesit bought
A more optimistic view is that the increased economies of scale and buying power will allow the combined company to evolve towards better design and improved quality relative to their competitors!
Re: Indesit bought
Or Not ! Philips used to build decent appliances back in the day, then Whirlpool arrived and it started to go downhill, Who knows how this will pan out but I reckon it will be good for us Indies
Re: Indesit bought
Martin wrote:The brand goes from bad to worse then. 🙁
I dunno Martin, I think overall, of all the utter garbage on the market these days, Indesit group produce the very worst.There’s very little in it of course I will admit :rolls:
Re: Indesit bought
I heard about it this morning (thanks Steve) as I was out on a two day pass.
I have no idea as yet what it’s all about beyond the headline but, it’s a bit of a bolt out the blue.
It’s also way too early tell what it will mean IMO, it’s big though.
K.
Re: Indesit bought
Reuters news article here there a few other articles covering this as well but Reuters seems to be the best feed.
Don
Re: Indesit bought
Having read about at a bit its looking like they intend to take the lot and delist from the stock market, they are planning in closing the deal by end of year subject to regulatory approval . Pretty major this and how it will pan out no one knows. Don’t see it affecting the UK service side much as I believe that makes money in its self. Now will WP will let it run as an independent company or it will get swallowed up as part of WP only time will tell. One thing for sure the Italians and going to loose out badly in this. No longer an Italian company and as such no need to protect home production.
Re: Indesit bought
Whirlpool spare parts prices are astronomical so the marriage will also be in that heavenly direction. As yet the length and location of the honeymoon has yet to be decided. 🙁
Re: Indesit bought
ADA (glasgow) are main wpool service providers in scotland , they farm it all out to sub contractors.
Re: Indesit bought
I don’t know never had much dealings with whirlpool, but I didn’t think there was a lot left of the whirlpool service left in the uk, didn’t they have a similar set up to service force? Looks like they might get busy or go quiet! Depends if they get rid of indesit service in the uk or keep them and bring all the whirlpool stuff in house to indesit, which ever way I can’t see them keeping both separate forever.
Phil
Re: Indesit bought
Actually, that leads to a very interesting train of thought Phil as we may well be in unchartered water here.
Consider, you have a “network” of Whirlpool service partners as they are known and, I believe that there are only twelve of them left, all super-sized from what I can gather covering huge swathes of the country.
You then have Indesit service using employees.
But this time around you also have franchisees as Indesit pushed to go that way. I wonder what, if any, penalty there is is to get out of those?
If nothing else, regardless of how it goes, it should be interesting and I’d bet that someone won’t be happy.
K.
Re: Indesit bought
Given Indesit’s UK market share dwarfs Whirlpool’s, I would wager Whirlpool’s service network will be impacted more than Indesit’s.
Re: Indesit bought
Last I heard though someone from Indesit said that they had about 300 franchisees across the UK and Eire.
Which begs the question, just how many actual employees are left.
I agree that, on the face of it that would seem logical Tim but, from experience, all bets are off when this sort of thing happens. What often appears to be the rational and logical way doesn’t always bear out in reality.
K.
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