Electrolux: agreement for the acquisition of Shanghai Veetsan Commercial Machinery

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Alberto Zanata, Head of Electrolux Professional Products
Alberto Zanata, Head of Electrolux Professional Products

Electrolux entered into an agreement to acquire Shanghai Veetsan Commercial Machinery, one of the largest manufacturers of professional dishwashers in China. The acquisition further strengthens Professional Products position in China as well as the Asia Pacific region, where the company sees potential for significant growth in the next few years. “By acquiring Veetsan we address growing demand in the region for solutions that can guarantee qualitative and hygienic results in line with international standards. Professional dishwashing represents one of the most promising product categories as its penetration rate in China is still considerably lower than other categories, such as cooking or refrigerated storage”, said Alberto Zanata, Head of Electrolux Professional Products. Established in 2003, with steady growth over the past 10 years, Veetsan distributes its products across China and has about 200 employees. The closing of the agreement is expected to take place during the first half of 2015 and is subject to authority approvals.