Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Report: Electrolux Loses Bid for Daewoo Electronics to Iran's Entekhab
Oct 7, 2010
 Printable format
 Email this Article
 Search

Woori Bank named Iranian appliance maker Entekhab Industrial Group as the top bidder for Daewoo Electronics Corp. according to a Yonhap News Agency report.

If the sales takes place as reported, it leaves reported Daewoo bidder Electrolux empty-handed, and transforms Entekhab from regional Mid East player to global appliance giant.

Daewoo is considered to be the third largest South Korean electronics/appliance firm (after LG and Samsung). It now focuses on microwave ovens, washing machines, and refrigerators, after selling off four divisions making air-conditioners, floor care appliances, motors, and TVs in 2009.

It had been reported in March by Woori Bank – one of several creditors with ownership in Daewoo – that Electrolux and Entekhab had been selected as the preferred bidders for Daewoo.

Despite decreased revenue in 2009, Daewoo reported an operating profit for the year of US$43 million, which it credited to focusing on profitable businesses. Revenues in 2009 were approximately US $1 billion.

Daewoo Electronics Corp. was once a part of South Korea's massive Daewoo Group, which went bankrupt in 1999, putting ownership of Daewoo Electronics in the hands of several creditors.

Back to Daily News

 

Daily News

...........................................................

Oct 31, 2014: Whirlpool Completes Acquisition of Majority Stake In Hefei Sanyo

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows