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Appliances, Tools & Housewares

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Zhejiang Supor dissolves 70-pct-owned electrical equipment unit

Wednesday, 6 Jul 2016 11:32pm EDT

Zhejiang Supor Co Ltd <002032.SZ>: Says it dissolved a Zhejiang-based electrical equipment unit .Says the company held 70 percent stake in the unit.

Hangzhou Robam Appliances to dissolve JV

Thursday, 7 Apr 2016 08:00pm EDT

Hangzhou Robam Appliances Co Ltd:To dissolve a 51 pct owned Shanghai-based joint venture engaged in wholesale, import & export, after-sales services of household electrical appliances and accessories.

Fiskars plans to centralize its factory in Poland

Monday, 21 Mar 2016 08:00am EDT

Fiskars Oyj Abp:Plans to centralize its garden cutting tools manufacturing to its factory in Poland.As a result of these plans, the employee consultations about the reorganization of the manufacturing operations will commence in Billnas on March 29, 2016 covering altogether 286 employees in the Billnas site.Possible permanent reduction of employees is estimated to affect maximum 107 employees.These plans are a part of the Supply Chain 2017 restructuring program with a target to improve competitiveness of Fiskars manufacturing operations and distribution network.

COWAY to divest water environment business into new subsidiary

Thursday, 10 Dec 2015 02:27am EST

COWAY CO.,LTD:To divest its water environment business into a new wholly owned subsidiary, namely Coway Entech Co.,Ltd.Coway Entech will be engaged in the water environment business.Division effective date of Feb. 29, 2016 and division registration date of March 3, 2016.

Electrolux AB to cut costs in Small Appliances unit, pay GE termination fee

Wednesday, 9 Dec 2015 02:00am EST

Electrolux AB:Cost reduction program within Small Appliances and information on costs related to ge appliances.Says operations continue to be negatively impacted by reduced volumes in several key markets, as well as unfavorable currency movements.Says measures to restore profitability are being taken, including staff reductions and downsizing of activities, mainly in the U.S., Sweden and China.Says ‍these actions are expected to reach full effect from end of 2016, with estimated annual cost savings of 120 million​ Swedish crowns.Says ‍costs related to program are expected to amount to 190 million​ crowns.Says ‍in accordance with terms of transaction agreement, Electrolux will pay termination fee of $175 million to General Electric.

Fiskars transfers manufacturing from Helsinki ceramics factory to partner network during 2016

Monday, 2 Nov 2015 07:00am EST

Fiskars Oyj Abp:The employee consultation process, started on Sept. 16, 2015 at the Helsinki ceramics factory has been concluded.As a result, Fiskars has made the decision to transfer the manufacturing operations from the Helsinki ceramics factory to a partner network outside Finland during 2016.Says the manufacturing at the factory will permanently end by Q1 2016.These changes are a part of the Supply Chain 2017 restructuring program which Fiskars announced in September, aiming at improving competitiveness of its manufacturing operations and distribution network.The employee consultations covered altogether 130 employees at the factory.As a result, the total personnel reduction is 120 people.Product development, portfolio management as well as design and brand related decisions will continue to be made in Finland.

Ningbo Xinhai Electric to dissolve sub-subsidiary

Monday, 26 Oct 2015 08:00pm EDT

Ningbo Xinhai Electric Co., Ltd:Says to dissolve a wholly owned Netherlands-based sub-subsidiary Unilight, which has been engaged in wholesale sale of lighters and gifts.

NORITZ to dissolve Tokyo-based subsidiary

Wednesday, 14 Oct 2015 02:00am EDT

NORITZ CORP:To dissolve Tokyo-based wholly owned subsidiary engaged in construction and repair of the company's products, on Dec. 31.Liquidation is expected to be completed in June 2016.

Fiskars aims to transfer Helsinki ceramics product manufacturing outside Finland

Wednesday, 9 Sep 2015 02:00am EDT

Fiskars Oyj Abp:Plans changes in the ceramics production in Finland - continues investments in brands, design and product development.Says these plans are a part of the Supply Chain 2017 restructuring program.Plans to transfer ceramics product manufacturing from Helsinki ceramics factory to a partner network outside Finland during 2016.Employee consultations with Helsinki ceramics factory employees will commence on Sept. 16 covering altogether 130 employees at factory.Possible permanent reduction of employees is estimated to affect entire personnel in Helsinki ceramics factory.

Fiskars Oyj Abp continues supply chain optimization with restructuring program

Wednesday, 9 Sep 2015 01:00am EDT

Fiskars Oyj Abp:Continues the optimization of its supply chain with a restructuring program.To optimize its global supply chain network in Europe and Asia.Total costs of planned program are about 20 million euros ($22.33 million) in 2015-2017, which are planned to be recorded as non-recurring charges.Planned Supply Chain 2017-program aims to improve competitiveness of Fiskars manufacturing operations and distribution network.Targeted annual cost savings are about 8 million euros.Cost savings to be achieved gradually with majority of the savings to materialize in the Group's results after the program is completed, which is estimated to be by the end of 2017.Planned measures will be negotiated and communicated locally in each country when they become more concrete.

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