Candy Group Q1 Sales Up 31% May 29, 2007

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European household appliances maker Candy Group sales increased 31% in the first quarter compared to the same period of 2006. The increase, Candy's highest in recent years, consolidates Candy's recent expansion with the start-up of the Vyatka washing machine production in Russia, the acquisition of washing machine maker Jinling in China in September 2006, and the acquisition of cooktops maker Süsler in Turkey in February 2007.

Washing machines were an especially strong product area in the first quarter. Candy makes washers under the Hoover, Candy, Otsein, Zerowatt, Vyatka, and Jinling brands, and the total sales increase amounted to 23.4%.

"We see the results of our commitment in acquisitions and product innovation," said Aldo Fumagalli, Candy Group chairman. "Our strategy is being implemented through the industrial and commercial presence in the largest or faster-growing markets. In the washing segment, we launched new products with unique functional and loading characteristics. Our concept of innovation is to invest for offering better performances, new capabilities, higher ecological [friendliness], and energy-efficiency parameters."
 

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