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Maytag Calls back Refrigerators in US

BEIJING, Sep 07, 2009 (SinoCast Daily Business Beat via COMTEX) --

Companies: Whirlpool Corp. (WHR)

Maytag Corporation, under the aegis of Whirlpool Corporation, recently announced that it would call back 46,000 refrigerators in the US due to possible fire risk.

However, the Chinese market is not involved in the callback issue at the moment, said a person from Whirlpool China.

Whirlpool's operations in the Chinese market mainly focus on the washing machine field. The company, which fixes its product prices at CNY 3,000 or so, ranks the fifth place in China in terms of market share. Its refrigerator and washing machine products in China have not ranked on the mainstream list yet.

Whirlpool acquired Maytag in March 2006 at a price of USD 1.8 billion. In April 2008, Whirlpool teamed up with Hisense Kelon Electrical Holdings to set up a joint venture. With an investment of CNY 900 million, the venture is mainly engaged in the research, development, and manufacturing of high-end washing machines and refrigerators. 

Source: www.163.com (September 07, 2009)

Copyright (C) 2009 SinoCast. All rights reserved

News Provided by COMTEX

Companies: Whirlpool Corp. (WHR)


Related terms: china, electrical, fire, investment, joint venture, manufacturing, market, market share, products, SinoCast China Business Daily news, call back, refrigerators, US, Chinese market, washing machine, acquire, joint venture

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