It would seem that the integration of Indesit hasn’t gone so well for Whirlpool which, many in the industry will not exactly be shocked about.
Whirlpool has cut its profit outlook for the year citing “temporary integration challenges” in the European, Middle Eastern and Africa (EMEA) market following its purchase of Indesit.
We’d go out on a limb here and say that the tumble dryer fiasco and the negative press around it probably isn’t helping either.
Whirlpool said it has been experiencing “peak complexity” in the EMEA market related to the Indesit integration, which it said led to a “temporary disruption” in its supply-chain network and product availability. Is that corporate speak for, the whole thing is a nightmare?
“As we continue to execute our plans and work through the elevated complexity of our European integration, we remain confident in our ability to deliver both $1 billion of free cash flow and record earnings per share in 2017,” chief operating officer Marc Bitzer said in a statement.
Once this tumble dryer thing goes away and it all settles down barring any further disasters.. maybe it’ll all be okay.
