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Star Comgistic Capital restructures subsidiaries

Friday, 24 Apr 2015 06:00am EDT

Star Comgistic Capital Co Ltd:A Zhangzhou-based subsidiary to set up a wholly owned investment sub-subsidiary in Hong Kong.The Hong Kong-based subsidiary to acquire 100 pct stake in an intelligence subsidiary of the company at $968,545.48.

Whirlpool Corp plans 500 million Euro Italy investment, 1,350 job cuts - Reuters

Thursday, 16 Apr 2015 12:42pm EDT

Whirlpool Corp:Says it would invest 500 million Euros ($535.25 million) over four years in Italy as part of a restructuring plan that would see 1,350 redundancies - Reuters.The plan aims at 'improving efficiencies and capacity utilization and integrating its manufacturing operations.It would include the closure of some sites with 400 extra layoffs in addition to 950 redundancies already planned at the time it acquired Indesit in July last year.Whirlpool said it would meet unions on April 20 for detailed discussion of the plans, which include the closure of the Carinaro site near Naples with the loss of 800 jobs.Says a large part of the 500 million Euros earmarked for the next four years would be aimed at building up production in Italy through a specialized network of factories and extra investment in research and development.


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