Appliances, Tools & Housewares
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 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.
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: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.
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 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.