APPLIANCE traveled to New York, NY, U.S. on May 25, 2004 to attend a Whirlpool Corporation event, where the company unveiled new products and presented its growth strategies.
The Benton Harbor, MI, U.S.-based appliance maker provided a display of products recently released to the market as well as new products to be introduced within the next 12 to 18 months.
The company introduced a TurboZone dishwasher under the Kenmore brand that uses high-pressured water jets to clean hard- to-remove foods from dishes. The company says that the new design has managed meets one of the highest consumer demands by simply positioning the dish rack holder so that the most pressure cleans the dirtiest dish.
Other products on display included the Whirlpool Polara refrigerated range and the Gladiator GarageWorks organizing system and appliances built specifically for the garage.
At two sessions, attended separately by financial analysts and reporters, the company's executive management team gave an overview the success of Whirlpool's global-expansion strategy that was initiated in the late 1980s by David R. Whitwam, the company's chairman and CEO. Retiring on June 30, Mr. Whitwam will be succeeded by Jeff Fettig, Whirlpool's current president and COO. Mr. Fettig will take his new post as CEO on July 1.
During the analysts presentation, Whirlpool executives reiterated the company's full-year earnings guidance of U.S. $6.20 to $6.35 per share and discussed the company's free cash flow forecast, which will increase this year to about $400 million, or $100 million above its previous forecast.
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