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

Gorenje Exits Kitchen Furniture Manufacturing
Mar 4, 2013
 Printable format
 Email this Article
 Search

Slovenian appliance producer Gorenje agreed to sell its kitchen furniture businesses, Gorenje Kuhinje and Gorenje Notranja oprema, to global private investment firm CoBe Capital.

Gorenje said the manufacturing operations in Maribor, Velenje, and Nazarje will continue under the new owner. Gorenje will also continue selling kitchen furniture produced by the companies under the new owner.

Gorenje Group said disposal of the furniture companies will improve its profitability and free cash flow.

Gorenje's furniture segment has been operating at a loss for four consecutive years, after being severely hit by the economic crisis.

"In CoBe Capital, we found a partner that will provide further development of furniture manufacturing in Slovenia and maintain the jobs," said Gorenje President and CEO Franjo Bobinac. "Gorenje will contribute in this respect as we will keep kitchen furniture in our offer of home products in the region, especially since there are synergy effects to be reaped from combining them with home appliance sales."

CoBe Capital is a global private investment firm that specializes in acquiring and non-core and underperforming business units in the Americas and Europe. CoBe acquired a German premium kitchen furniture producer, Warendorf, last year. This year it acquired Austrian hardwood kitchen manufacturer Kornmueller. The acquisition of 100% ownership share in the companies Gorenje Kuhinje and Gorenje Notranja oprema represent CoBe's first investment in Slovenia

Gorenje Kuhinje and Gorenje Notranja oprema manufacture kitchens and other furniture at plants in Maribor, Velenje, and Nazarje. The two companies together have almost 400 employees.

Back to Daily News

 

Daily News

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

Jul 25, 2014: Weekly Raw Steel Production Nearly Flat from 2013

Jul 25, 2014: Foran Named CEO of Walmart U.S.

Jul 24, 2014: Remodeling Spending to Be Slower, But Still Strong, in Early 2015

Jul 23, 2014: Whirlpool North America Reports Record Operating Profits

Jul 23, 2014: Japan Destroyed 3.6 Million KG Fluorocarbons from Commercial Refrigerators and AC

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