Whirlpool will hold 51% stake in Hefei Rongshida Sanyo Electric Company
Whirlpool Corporation is set to acquire a 51% stake in Hefei Rongshida Sanyo Electric Company, with the acquisition expected to be completed at the end of the third quarter or early fourth quarter of 2014.
It forms part of Whirpool’s long-term strategy to grow its position in the Chinese market.
Hefei Sanyo boasts the Sanyo, Roshida/Royal Star and Diqua brands, with the main products being washers, refrigerators and microwave ovens. It was established in 1994 and last year reported revenue of $866m.
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The investment by Whirlpool is part of the company’s commitment to enhance Hefei Sanyo’s research and development and product innovation capabilities.
Jeff Fettig, chairman and CEO of Whirlpool Corporation said: “This is a significant milestone in bringing our companies together, and we look forward to delivering increased value for the Chinese consumer and leveraging our global enterprise for greater efficiencies.”
Sintered stone manufacturer Neolith has launched Calacatta Roma and Cappadocia Sunset, inspired by nature and classical architecture, and for use in kitchens or bathrooms walls, floors, in gardens or facades.
They belong to The New Classtone and Fusioncollections which interpret marble and natural stone, respectively, and boast Neolith’s antibacterial NeolEAT technology.
Inspired by Ancient Rome, Calacatta Roma (pictured top) pays homage to Italian Carrara marble, with ochre and grey veins in a white background.
While the Cappadocia region, in central Turkey, with its rock formations formed by volcanoes and underground cities, has inspired Cappadocia Sunset (pictured below).
Just like all of Neolith’s surfaces, Calacatta Roma and Cappadocia Sunset are resistant to heat and atmospheric conditions, are 100% recyclable, and do not contain added quartz to their formulation.
Mar 14, 2024
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