Governor says Maytag is in “deep trouble”

Maytag executives have been meeting today with the Congressman who represents Newton as well as state economic development officials. Governor Tom Vilsack says the state could offer to help re-train Maytag workers on new manufacturing techniques.”Perhaps the state can provide resources to provide…

Electrolux to freeze local lines, lay off 130

The St. Cloud Electrolux freezer factory will pause production May 9-13 and lay off about 130 workers May 23. It is the fifth pause in production and the second major layoff in less than a year. Electrolux spokesman Tony Evans attributed both events to a “softening of demand in the freezer market.”

Electrolux Annual Report now on the Group’s Web Site

The Electrolux (Pink Sheets:ELUXY) Annual Report for 2004 is available on the Group’s web site as of today, at www.electrolux.com/annualreport2004. The printed version is now being distributed and can also be ordered from Electrolux Investor Relations at +46 8 738 60 03. The annual report include…

China adjusts the focus of attracting foreign investment

“In the recent years, the global foreign direct investment (FDI) takes a new development trend. A new round of global industry adjustment, which characterized by the outsourcing of service industry, high-tech, high-end manufacturing with high value-added and the transfer of research and developme…

Only Korean, Chinese fridge makers escape growth freeze

Year ’05 has begun with a sharp skew for refrigerator makers. In the first two months of this year, Korean and Chinese brands were the only saving grace for the industry. Latest industry sales data reveals that only LG, Samsung, Haier and Daewoo brands clocked more unit sales in the January-Febru…

January start for WEEE producer responsibility “optimistic”

Industry experts have warned that the new, January 2006 start date for producer responsibility in the waste electrical and electronic equipment (WEEE) sector may be overly “optimistic” on the part of the DTI. New EU-inspired regulations making producers responsible for collecting and recycling el…

Washing machine fingers lazy male

A Spanish designer has come up with what could be the perfect solution for the woman who feels frustrated that she has to do all the house chores. It is a washing machine called “Your Turn”, which will not let the same person use it twice in a row.

Consumer credit

The Consumer Credit Bill, which was hailed as the Government’s flagship consumer protection legislation, has been dropped because there is no time for it to be passed before the General Election on May 5. The Bill represented a major shake-up of the consumer credit laws and was supposed to restri…

Company directors face criminal charges

Company directors face criminal penalties from today, if they fail to disclose relevant accounting information to auditors. Amendments in the Companies Act require directors to sign declarations that they have not concealed any material information from auditors. If they are subsequently found to…