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 Loan Will Pay to Move Manufacturing to Slovenia
Oct 9, 2013
 Printable format
 Email this Article
 Search

Appliance maker Gorenje, based in Velenje, Slovenia, secured a EUR 30 million loan to help pay for the transfer of washing machine, clothes dryer, and dishwasher manufacturing from Sweden to Velenje. The funds will also be used to improve the average maturity of financing sources.

The note was signed in late September by Gorenje President and CEO Franjo Bobinac, the management board president of NLB Janko Medja, and the management board president of SID banka Sibil Svilan.

Gorenje said the loan, repayable in 5 years, will not increase Gorenje's overall debt. NLB and SID banka will each contribute half of the total loan amount.

"This new long-term loan will strengthen the Gorenje Group's financial stability, which is especially important in a time of harsh conditions in the markets and a time of restructuring which is currently under way at the Group and includes strategic shifts of manufacturing operations," Bobinac said.

Gorenje Group acquired Swedish appliance maker Asko in 2010 and is relocating all Asko manufacturing operations to Slovenia. Asko research and development, brand management, and marketing operations will remain in Vara, Sweden.

Back to Daily News

 

Daily News

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

Oct 28, 2014: HVAC/R contractors remain optimistic about short-term growth

Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

More Daily News>>

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

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

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
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