Whirlpool expands in China

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HA_NL_WHIRLPOOLThe United States Group Whirlpool has taken over the majority of shares (51%) of the Chinese producer of white goods Hefei Sanyo. The new company, which employs 14,000 people and relies on a distribution network of 30,000 stores on the Chinese territory, will be called Whirlpool China Co. and will be listed at Shanghai Stock Exchange. In its turn, Whirlpool had ended the third 2014 quarter with a global turnover of 4.8 billion Dollars and a net profit of 230 million Dollars (196 in the corresponding period of 2013). The takeover of Hefei Sanyo occurs shortly after that of the Italian Indesit and is included in an expansion programme of the Group at all levels.