LG is apparently considering a bid for General Electric Co’s appliance division and will likely hire an investment bank to advise on the deal, the Financial Times reported on its Web site Thursday, citing a person familiar with the matter. Senior executives at LG charged with preparing a detailed…
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Daewoo Plans 100M Zloty Polish Refrigerator Plant
Obviously not wishing to be left out of the seemingly mad rush towards Poland to build appliances, South Korean conglomerate Daewoo wants to invest 100 million zlotys in Poland to build a refrigerator factory, newspaper Rzeczpospolita reported on Today but giving no sources.
Whirlpool Case On Two Patents Against LG Electonics Terminated By Judge
The U.S. International Trade Commission (ITC) should terminate Whirlpool ‘s case on two patents asserted against LG Electronics’ advanced freezer drawer features, according to a ruling by ITC Administrative Law Judge Theodore Essex.
Electrolux To Invest In Poland
Swedish kitchen, cleaning and outdoor appliances manufacturer Electrolux may invest up to a billion zlotys in Poland. The Swedish white goods manufacturer plans to invest 1.5 billion zlotys in Central and Eastern Europe in the near future, TVN24 news channel has found out. The majority of the inv…
Gorenje Buy Atag
LJUBLJANA ““ “ATAG’s acquisition will be finalized on July 1, worth EUR 130mn. A part will be paid in cash and a part in treasury shares”, said Franjo Bobinac, Gorenje Chairman. ATAG is a producer of household appliances, operating for 60 years now. Its headquarters are in Erpe-Mere in Ea…
26 Million Brits Create Waste Mountain of Appliances
A survey conducted in May 2008 by Homeserve, a leading home emergency repair and insurance provider, has shown that there is a growing problem of electrical waste in the UK, with 43% of these electricals being appliances. This is an escalating ‘Green’ problem, but the good news is it can be easil…
The (Almost) Waterless Washing Machine?
Leeds University spinout Xeros has won a provisional £500,000 investment from IP Group Plc for a revolutionary washing machine product which is claimed to use only one cup of water per cycle. IP Group said the investment was dependent on certain milestones being met. IP Group already has an…
Joint LG & Electrolux GE Bid Rumoured
LG Electronics said it hasn’t been approached by Sweden’s Electrolux about a joint bid for General Electric Co.’s (GE) home appliances unit that is up for sale. “We haven’t been approached by Electrolux or received a proposal from the Swedish company about a possible joint bid for GE’s home appli…
DSG to test ‘bigger, better Currys’
Property Week reports that DSG International is to introduce a new format to the UK, which will be similar to its eastern European Electro World brand. The retailer, known in the UK for its Currys and PC world stores, is planning to trial a new format in an existing store in the UK and aims to be…
LG, Electrolux & Others In the Running To Buy GE Appliances
General Electric has today named LG Electronics as a contender to buy its appliance business, which is valued at $4-$8 billion, along with China’s Haier Electronics Group Co Ltd, Mexico’s Controladora Mabe and Turkey’s Arcelik (Beko in the UK). Major Asian appliance makers have been cited as like…