Maytag, Samsung Electronics Announce Alliance Agreement Feb 24, 2004

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Appliance makers Maytag Corporation and Samsung Electronics Co., Ltd. announced they have signed an agreement for Samsung to manufacture high-efficiency, front-load laundry products for Maytag.

The strategic agreement is designed to expand Maytag's existing laundry product lines and strengthen its market position, both in the U.S. and internationally. Maytag plans to continue manufacturing laundry products in the U.S.

"Since the laundry models will all be new for Maytag, this agreement will help us increase the variety of laundry products Maytag offers to consumers worldwide, while continuing our tradition of dependability and innovation," said Ralph F. Hake, chairman and CEO of Maytag Corporation. "This laundry partnership will combine the best of Maytag's design, testing, consumer research, marketing and sales expertise with Samsung's laundry and electronics knowledge and world-class manufacturing capability."

The laundry models initially will be marketed exclusively under the Maytag and Amana brands and will be sold through normal Maytag distribution channels beginning later this year in the U.S. and international markets. The laundry agreement will serve as a basis for discussions about other potential business cooperation, Mr. Hake said.

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