American Whirlpool to sell Russian business to Turkish Arcelik

The American appliance maker stopped production at two of its factories in Lipetsk in early March. In particular, they produced refrigerators under the brands Whirlpool, KitchenAid, Bauknecht,

Turkish Arcelik (owner of the Beko household appliances brand) signed an agreement with the American Whirlpool on the purchase of its Russian assets - Indesit International JSC and Whirlpool Rus LLC. This is reported by the Turkish portal Borsamanset with reference to the message Arcelik.

As a result of the transaction, Arcelik will receive production facilities in Lipetsk, allowing the production of 2.8 million refrigerators and washing machines per year.

The deal is not expected to exceed €220 million and the payments are planned to be spread over ten years, according to Arcelik.

According to SPARK, the revenue of Whirlpool Rus according to RAS in 2021 amounted to 40.8 billion rubles, net profit - 1.9 billion rubles, for Indesit International these figures amounted to 29.1 billion rubles. and 220 million rubles. respectively.

Whirlpool buys out majority stake in Indesit for €758m Economics

Whirlpool suspended production at two of its factories in Lipetsk in early March. Workers were transferred to pay two-thirds of the average wage. As the production DIRECTOR Francesco Celentano pointed out, the decision to suspend was made based on the calculation of the stocks of manufactured products.

Lipetsk has a full cycle of production of refrigerators, freezers and washing machines under the brands Whirlpool, KitchenAid, Bauknecht, Hotpoint and Indesit. Products manufactured in RUSSIA cover not only the needs of the Russian market, but are also exported to European countries, follows from the information on the Whirlpool website.

Read on RBC Pro Pro How to protect your skin from the sun:detailed instructions from a dermatologist Instructions Pro Purchasing from a single supplier under sanctions.Things to Consider Pro Cases The Benefits of Regrets and the Power of Genuine Fun:5 Fresh Books About Self-DevelopmentWhy Russians refuse to buy apartments and what will happen to demand Forecasts Pro For both robots and people:how to write SEO-optimized text that works How To Pro Latest series.How the outgoing June will go down in the history of Yandex Articles Pro Seven negative attitudes of a sales manager.And how to correct them Instructions

From Adobe to Visa: which companies have suspended work in Russia 

After Russia launched a special operation in Ukraine, the US imposed restrictions on high-tech exports to Russia and a number of other sanctions. They did not concern consumer equipment, but due to problems with logistics, currency fluctuations and pressure from the foreign public and politicians, a number of brands announced the suspension of work in Russia or the complete withdrawal from the country. The EU, in turn, imposed restrictions on the supply of electronic goods for home use over €750, as well as electronic devices for recording video or sound worth over €1,000.

In early June, sellers of household appliances and electronics informed RBC about a reduction in the range due to the curtailment of business in Russia by foreign companies and logistical difficulties in the supply of components. According to Alexey Pogudalov, commercial director of the Kholodilnik.ru chain of stores, the maximum reduction occurred in categories where the share of European, Korean and American brands was the highest: dishwashers, ovens and hobs, built-in refrigerators, TVs, smartphones, separate segments in vacuum cleaners. In terms of brands, the assortment decreased most significantly at Bosch, Electrolux, Samsung, Miele, Dyson and APPLE.