Reuters reports today that an unnamed source has stated that Daewoo Electronics top shareholders have written to Electrolux. There’s no prizes for guessing the general content of that letter.
Category: Domestic Appliance News
Domestic Appliance News
All the latest general news from the domestic appliance industry that we find all over the world, and stories that are of interest to the trade and public, often with our own unique non-politically correct spin on it.
We cover almost anything interesting to do with appliances or that affects the industry, including new product releases, scandals, recalls, mergers, takeovers and all the other juicy appliance news from around the world.
If you have a story to share, please let us know or contact us on admin@ukwhitegoods.co.uk or contact Kenneth here
Knight Vinke Pushing For Sale Of Comet?
Bloomberg reports that someone “familiar with the matter” has said that Kesa Electricals largest investor asked the retailer to consider options that may include ending its unprofitable U.K. Comet operations and listing its shares in Paris.
Entekhab Threatens Action Over Sale Of Daewoo Electronics
Reuters reports today that Entekhab Industrial Group has threatened to take legal action to stop the sale of unlisted Daewoo Electronics Co Ltd after the main shareholders of Daewoo decided to drop the an earlier deal with the Iranian group over funding uncertainties.
Daewoo Deal Collapse, Electrolux Back In The Running
The planned sale of Daewoo Electronics to Entekhab Industrial Group for 577.7 billion won ($534.9 million) has collapsed after the Iranian company failed to make a full payment, the South Korean company’s creditor said.
Fisher & Paykel Returns To Profit
Fisher & Paykel Appliances Ltd reported a return to full year profit on Friday, as it showed the benefits of its restructuring of the past two years with reduced debt and costs.
Beko Predicts 250% Growth In Middle East
Beko, the international home appliance brand from the Turkey-headquartered Arçelik Group, Wednesday night announced an expected 250 percent growth in sales by 2016 in the Middle East region, driven by the company’s commitment to creating products designed with the environmentally-con…
Electrolux To Buy Olympic Appliances
Olympic Group said today that Electrolux, which has a preliminary agreement to buy the Egyptian appliance maker, will extend due diligence checks on the $370 million deal by 15 days.
Calgon Doesn’t Work, Finally Others Agree With Us!
Well, here’s a shocker. Calgon doesn’t work. We’ve been telling people for years it’s a complete waste of time and your money and, finally, consumer organisation Which? agrees with us. Calgon is a waste of your money!
Dixons Start To Manage Profit Expectation
Dixons Retail, the owner of the Currys and PC World brands, reported that sales for the group had fallen 2 per cent for the year to April 30. However, chief executive John Browett confirmed that underlying group profit would be approximately £85 million (Dh505.45 million) for the year when …
Whirlpool Win First Step Of Anti-Dumping Spat
Whirlpool is one step closer to winning an antidumping case against its South Korean rivals, LG Electronics and Samsung Electronics. The U.S. International Trade Commission voted 5-0 in favor of Whirlpool’s petition to get antidumping and countervailing duties imposed on bottom-freezer refrigerat…