Gorenje Targets 8% of European Appliance Market May 30, 2006

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Gorenje CEO Franjo Bobinac told news weekly Demokracija that the appliance company intends to expand through development of its existing business and through acquisitions. The strategy will include maintaining production levels in Slovenia, where the company is headquartered, while expanding production outside the country.

In the interview, Bobinac said approximately 10 percent of the company's production happens in the Czech Republic, a result of its acquisition of Mora Moravia, a.s., in Mariánské Údolí in the Czech Republic, at the end of 2004. Further production expansion will take place in four locations, including Russia and the Ukraine.

Approximately 90 percent of the company's market is in Europe. Bobinac estimated that doubling its market share in Europe would give the company 7 percent to 8 percent of the market, which could make it the fifth-largest appliance company in the market.

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