Appliances, Tools & Housewares

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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.

Fiskars Oyj Abp Plans EMEA Restructuring Program

Monday, 10 Jun 2013 03:00am EDT

Fiskars Oyj Abp announced that the Company introduces a restructure program to optimize operations and sales units in the EMEA region. The targeted annual cost savings of the planned program are around EUR 9-11 million, subject to the full implementation of the program. The targeted cost savings would be achieved gradually, and the majority of the savings are expected to materialize in the Group’s results in 2015. Planned measures will be negotiated and communicated locally in each country when they become more concrete.

Fiskars Oyj Abp Centralizes Glass Manufacturing and Expands Iittala Factory; Concludes Codetermination Negotiations

Thursday, 6 Jun 2013 03:00am EDT

Fiskars Oyj Abp announced that the codetermination negotiations started at Iittala and Nuutajarvi glass factories in April 2013 have been concluded. The reason for the negotiations was the Company's plan to reorganize glass manufacturing operations and centralize glass production in Iittala. The Company centralizes its glass manufacturing into one unit in the Iittala glass factory and production based in Nuutajarvi will be transferred to Iittala in 2014. The negotiations concerned 223 employees at the glass factories, of whom 189 are located in Iittala and 34 in Nuutajarvi. As a result of the negotiations, a total of 27 persons have been offered a possibility to transfer from Nuutajarvi to Iittala. Total number of redundancies is defined to be 28 positions, of which eight will take place through retirement. The section in use for mouth blown glass at Iittala factory will almost double in size and machinery will be renewed. The work on factory expansion and permission process will begin immediately with an aim to begin construction during autumn 2013. The expansion is to be ready during first half of 2014, after which transfer of production from Nuutajarvi to Iittala will begin. Because of the market situation and negative development in demand, temporary lay-offs will occur at the glass factories. The length of lay-offs will be six to eight weeks and will affect 75 employees in Iittala and Nuutajarvi factories. The lay-offs will be held in liaison with 2013 summer holidays.

Janome Sewing Machine Co Ltd Transfers Stake in Thailand-based Subsidiary to Taiwan-based Subsidiary

Thursday, 23 May 2013 03:00am EDT

Janome Sewing Machine Co Ltd announced that it has decided to transfer 4,680,000 shares of its Janome (Thailand) Co., Ltd's stock, to Janome Taiwan Co., Ltd. for THB 248 million, on May 30, 2013. After this, the Company will hold a 5.9% stake in Janome (Thailand) Co., Ltd, down from 59.1%, and Janome Taiwan Co., Ltd. will hold a 59.1% stake in Janome (Thailand) Co., Ltd, up from 5.9%. Additionally, Janome Taiwan Co., Ltd. is a wholly owned subsidiary of the Company.

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