Ripplewood Holdings LLC, the private equity firm that recently lost a bid for Maytag Corp., said in a letter to Maytag’s board that if circumstances change, the firm is still interested in the company. The letter, signed by Ripplewood Chief Executive Timothy Collins, appeared on Thursday in a ful…
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Whirlpool To Eliminate 400 Jobs
Whirlpool has announced it’s cutting about 400 jobs, eliminating a third shift at the Fort Smith plant, in conjunction with lowered demand for the product that shift produces.
You’ve Got Laundry!
Today’s college students are among the most connected people on earth. Their WiFi-networked laptop computers, cell phones, and PDAs keep them in constant contact with each other and the world around them. However, there has been at least one place they could not connect with until recently-the ca…
Spare blade sets offered for pipe cutter
Users of a highly innovative, labour-saving pipe cutting tool from Kopex, Pipeslice, are now able to obtain sets of spare blades in handy, easily stored cases. Winner of the Corgi ‘Special Award for Innovation’ at 2005’s ‘Gas Oscars’, Pipeslice cuts through copper pipe with a twist of the wrist, …
Plyanemca (Bradshaw Group) vs NW Appliance Repairs
I find myself in the strange position in this case of having to report the news as well as being a part of the news but I’ll do as best I can to remain as impartial as I can. NW Appliance Repairs Ltd (NWAR) carried out some work on behalf of Bradshaws (later to become a part of the Plyanemca Grou…
Whirlpool and Maytag Sign Definitive Merger Agreement
BENTON HARBOR, Mich. and NEWTON, Iowa, Aug. 22 /PRNewswire-FirstCall/ — Whirlpool Corporation and Maytag Corporation today signed a definitive merger agreement in which Whirlpool will acquire all outstanding shares of Maytag in a cash and stock merger valued at $21 per share. One half of the per…
China-listed appliance titan Haier’s Q2 disappoints
The Shanghai-listed arm of top Chinese appliance maker Haier disappointed with a 17 percent slide in second-quarter earnings on Thursday, as it fended off fierce competition while keeping a lid on rising costs. And Qingdao Haier Refrigerator Co. Ltd.’s 2005 profit is expected to drop by about a f…
Miele Reports Strong Years
German home appliance maker Miele reported sales of 2.26 billion euros (U.S. $2.76 billion) during fiscal year 2004/2005, marking a 5.2-percent turnover increase. This compares with sales of 2.15 billion euros in the previous reporting period. Miele said it achieved the increase despite fierce in…
Whirlpool acquires Maytag, becomes No 1 appliance maker in the world
Whirlpool is buying out rival appliance maker Maytag in a $1.7 billion cash and stock deal. Once completed, the unified entity will be the world’s largest appliance maker.
Sharp rise in recalls electrical goods
The insatiable demand for cheap electrical goods has led rise to a sharp rise in the number of faulty and dangerous products withdrawn from sale.