Whirlpool Corporation
| Whirlpool Corporation
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|---|---|
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| legal form | Corporation |
| ISIN | US9633201069 |
| founding | 1911 |
| Seat | Benton Harbor , Michigan , United States |
| management | Jeff Fettig |
| Number of employees | 93,000 |
| sales | 20,718,000,000 USD |
| Branch | domestic appliances |
| Website | www.whirlpoolcorp.com |
| As of December 31, 2016 | |
Whirlpool Corporation is a listed US manufacturer of large household appliances based in Benton Harbor , Michigan . The company has been one of the world's leading manufacturers of household appliances for years.
With annual sales of approximately US $ 20 billion in 2014, 100,000 employees and 70 production and technology research centers worldwide, Whirlpool sells its products in over 170 countries under the brands Whirlpool, Maytag, KitchenAid , Jenn-Air, Amana , Bauknecht , Brastemp , Gladiator GarageWorks, Privilege , Indesit, and others. Many subsidiaries started out as family businesses in small towns; With the purchase of the Maytag Corporation in March 2006, the Whirlpool Corporation became the largest household appliance manufacturer in the world.
history
In 1911 the Upton Machine Co. was founded in St. Joseph , Michigan . Production started with washing machines with electric drives. Five years later, the first order from the largest customers later, came Sears, Roebuck & Co . In 1929 the Upton Machine merged with the Nineteen Hundred Washer Company, Binghamton , New York. The newly formed company had operations in Michigan and New York. The Binghamton plant closed in 1939. The first whirlpool washer was featured in the Sears catalog in 1947.
In 1950, the Nineteen Hundred Corporation was renamed Whirlpool Corporation and the product range was expanded to include automatic tumble dryers . In 1951, Whirlpool took over LaPorte, Indiana , as a parts warehouse and acquired the Clyde facility in Ohio , which over time grew into the largest washing machine factory. In 1955, Whirlpool merged with Seeger Refrigeration Co. as well as the Estate product division and the air conditioning plant of RCA . RCA Whirlpool was chosen as the brand name and Whirlpool Seeger Corporation as the company .
A dryer plant in Marion , Ohio, and a refrigerator company in Evansville, Indiana, were also acquired, expanding production capacity. In 1957, Whirlpool invested in Brastemp SA, thereby gaining access to the Brazilian home appliance market. Appliance Buyers Credit Corporation was founded, a forerunner of today's Whirlpool Financial Corporation. In 1967, the "Cool-Line" was the first free and direct telephone consumer advice center in the USA. Whirlpool built a new dishwasher manufacturing facility in Findlay , Ohio. In 1969, Whirlpool acquired shares in the Canadian company Inglis Ltd., and in 1990 the company became the sole owner of this company.
In 1986 the KitchenAid division of Hobart Corporation was taken over by Dart & Kraft. A majority stake in the compressor manufacturer Aspera srl was acquired from Fiat. In 1987, Whirlpool founded TVS Whirlpool Ltd. as part of a joint venture with Sundaram Clayton in India. The Pondicherry plant for the manufacture of compact washing machines was established, and in 1994 Whirlpool acquired the majority in this joint venture. In 1988 Whirlpool entered into the Vitromatic joint venture in Mexico with Vitro SA , after which it acquired the brand names Roper and the waste compactors and dishwashers divisions of Emerson Electric Co. In 1989, a joint venture between Whirlpool and Philips was agreed. In the same year, Whirlpool took over the German home appliance manufacturer Bauknecht . In 1991, Whirlpool acquired the remaining shares in Philips / Whirlpool and became the sole owner. In 1991 Whirlpool and Tatramat, Poprad , Slovakia agreed on a joint venture for the manufacture and marketing of household appliances. Whirlpool took over the majority stake in 1994.
In 1994 Whirlpool consolidated its presence in Asia. Beijing Whirlpool Snowflake Electric Appliance Co.Ltd. Whirlpool Asia and Teco Electric & Machinery Co.Ltd. formed into Great Teco Whirlpool Co. Ltd. Consul and Brastemp merged to form Multibras SA Electrodomesticos. In 1996, Whirlpool Europe acquired Gentrade's manufacturing and distribution business in South Africa and opened sales offices in Romania and Bulgaria. 1998 gave Whirlpool a new plant for the manufacture of no-frost refrigerators near Pune ( India ) in order and moved his headquarters for the global microwave business to Hong Kong. In Europe, Whirlpool became a supplier of household appliances for the furniture store Ikea .
In 2002, Whirlpool took over Polar S.A., Poland's leading home appliance manufacturer, and Vitromatic, Mexico's largest home appliance manufacturer and marketer. The former joint venture with Vitromatic was renamed Whirlpool Mexico. In 2004 Whirlpool Europe launched its global partnership with Habitat for Humanity in Europe. In 2010, Whirlpool took over the household appliance brand name Privilege from mail order company Otto , who had only acquired the brand himself from Quelle's bankruptcy estate in November 2009 . In 2013, a majority of 51% of the shares in the Chinese company Hefei Rongshida Sanyo Electric Co. Ltd. acquired for $ 552 million. In 2014 Whirlpool Italia Holdings Srl acquired 56% of the shares in the third largest European household goods manufacturer Indesit for approx. 758 million euros and holds a total majority of 60.4% in Indesit.
Web links
Individual evidence
- ↑ a b Whirlpool 2016 Form 10-K Report , accessed February 15, 2017
- ↑ a b Whirlpool: WhirlpoolCorporation-AnnualReport2014 (accessed April 1, 2015)
- ↑ Whirlpool buys 51 percent stake in China appliance maker , accessed April 1, 2015.
- ↑ Valuation @ EUR 11 / share at 100% including net financial liabilities
- ^ "Whirlpool to buy 60 percent of Italy's Indesit [ "], accessed April 1, 2015.