Appliances, Tools & Housewares

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Electrolux AB Launches Cost-Cutting Program; Closes Factory for Refrigerators and Freezers in Orange, Australia-DJ

Friday, 25 Oct 2013 03:34am EDT

Dow Jones reported that Electrolux AB will cut costs to adapt to the European market, which continues to suffer from weak demand. The program will mainly hit the business unit Major Appliances Europe, Middle East and Africa, but also other business areas. The Company is launching an investigation into the competitiveness of its Italian manufacturing business for major appliances, which includes all four plants. Electrolux has also decided to close its factory for refrigerators and freezers in Orange, Australia, and to concentrate production at the major appliances plant in Rayong, Thailand. Approximately 2,000 employees may be affected by the cost cuts, excluding any fallout from the investigation into the Italian manufacturing operations.

FG Europe SA Completes Merger By Absorption Of Subsidiaries

Friday, 18 Oct 2013 10:06am EDT

FG Europe SA announced the completion of the merger through absorption of its 100% subsidiaries FIDAKIS SERVICE SA and FIDAKIS LOGISTICS SA. The merger was approved by the No. K2-5977/10-10-2013 Decision of the Ministry of Development and Competitiveness, according to the Decisions of the Board of Directors of the absorbing company and of the Board of Directors of the absorbed companies, under the provisions of Articles 69 – 78 of Codified Law 2190/1920, the provisions of Articles 1 – 5 of Law 2166/1993 and in compliance with the No 18725/18-09-2013 Act of Notary Public of Athens Maria Pan. Tsaggari. The above approval was recorded in the General Commercial Registry (G.E.M.I), of the General Directorate of Domestic Trade of the Ministry of Development and Competitiveness on October 11, 2013 with Code Registration Number 107043, according to the No. K2-6195/11-10-2013 notice, sent to the National Printing House for publication in the Gazette.

Nadir Figueiredo Industria e Comercio SA Announces Proposal of Incorporation of Subsidiary

Tuesday, 15 Oct 2013 09:23am EDT

Nadir Figueiredo Industria e Comercio SA announced that on the Extraordinary General Meeting to be held on October 30, 2013 it will deliberate on the proposal of the Executive Board to incorporate the Company's subsidiary, Multividro Industria e Comercio Ltda.

Brasmotor SA Announces Changes in Shareholding Structure

Monday, 16 Sep 2013 08:16am EDT

Brasmotor SA announced that WHIRLPOOL CANADA HOLDING CO has transferred total stake held in the Company to its wholly-owned subsidiary WHIRLPOOL CSA HOLDINGS S.A R.L. Consequently, WHIRLPOOL CSA HOLDINGS S.A R.L. became a direct holder of 388,555,962 ordinary shares and 63,000,000 preferred shares of the Company, corresponding to a 15.77% stake in the share capital of the Company.

Aucma Co Ltd Announces Restructure of Subsidiaries

Friday, 30 Aug 2013 12:00pm EDT

Aucma Co Ltd announced that it will acquire a 20% stake in a Qingdao-based subsidiary, an electric cars company, for RMB 1,303,663.13 from another subsidiary of the Company, and acquire a 10% stake in its Qingdao-based subsidiary, an electric technology company, for RMB 1,311,617.04 from its subsidiary, a new energy electric cars company. As a result, the Company will hold a 100% stake in the two subsidiaries, respectively.

LiHOM-CUCHEN CO.,LTD to Merge with Subsidiary

Monday, 29 Jul 2013 02:35am EDT

LiHOM-CUCHEN CO.,LTD announced that it will merge with its wholly owned subsidiary, which is mainly engaged in the sales of household appliances, to improve corporation value. The expected merger effective date is September 30, 2013.

Aucma Co Ltd Announces Equity Share Transfer Between Subsidiaries

Thursday, 4 Jul 2013 08:00pm EDT

Aucma Co Ltd announced that three subsidiaries has decided each to transfer a 3% stake in a Qingdao-based vending machine company, to another subsidiary of the Company, which is a Qingdao-based asset management company. As a result, the Qingdao-based asset management company will hold a 12% stake in the vending machine company.

Fiskars Oyj Abp Plans Restructuring of Sorsakoski Cookware Factory Possibly Resulting in Reduction of 16 Positions

Monday, 10 Jun 2013 08:00am EDT

Fiskars Oyj Abp announced that the Company has reviewed the cost structure of the Sorsakoski cookware factory and plans to restructure the factory’s operations to improve competitiveness of cost structures and operating models. Due to the planned restructuring, the factory will hold codetermination negotiations that could lead to a maximum permanent reduction of 16 positions. Currently, the factory employs a total of 96 persons.


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