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

Shareholders Approve Royal, TechTronic Merger
Apr 23, 2003
 Printable format
 Email this Article
 Search
Shareholders of Royal Appliance Mfg. Co., the maker of Dirt Devil vacuum cleaners, approved the company's sale for U.S. $105.5 million to Hong Kong power tools maker TechTronic Industries. The deal, announced in December, was approved at a special meeting of Royal Appliance shareholders and is expected to be complete soon. TechTronic shareholders approved the deal March 31. Royal Appliance and its brands will be a TechTronic subsidiary. Company spokeswoman Adria Harrison said shareholders with 99 percent of the 10.8 million shares involved in the vote were in favor of the merger. The company, based a Cleveland, OH, U.S. suburb, has about 500 employees, and no job cuts are anticipated. The deal provides Royal Appliance shareholders $7.37 per share. Royal Appliance makes vacuums and other cleaning appliances under the Royal brand, as well as the Telezapper, a device intended to reduce computer-dialed telemarketing calls. The company first started selling Dirt Devil vacuums in 1984. TechTronic was founded in 1985 and has about 12,000 employees. (Reuters)

Back to Daily News

 

Daily News

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

Aug 29, 2014: Adaptive Frequency Drive Increases Trane Chiller Efficiency

Aug 29, 2014: Vitamix President Receives Entrepreneur of the Year Award

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

More Daily News>>

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

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

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
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 | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows