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Italian appliance maker Merloni Elettrodomestici announced that it will operate under the new name Indesit Company as of January 2005. The company approved the new name at a shareholders meeting in Fabriano, Italy on September 6.
The appliance maker says the name change meets the need to effectively communicate the strong links between the company and its brands.
The company said Indesit was chosen because it is the most international of Merloni Elettrodomestici's brands and the one that best expresses the company's personality -- young, straightforward, dynamic, reliable. The word "company" following "Indesit" underscores the strategic choice to build a single, strong, energetic organization -- capable of both preserving and integrating different cultures. Indesit, in fact, was the company’s first big acquisition, made in 1987, in a series of 14 including Stinol in Russia and Hotpoint in the UK, the two most recent ones.
"Thirty years after its incorporation, Merloni Elettrodomestici will transfer to Indesit Company its philosophy, values, and tradition, brands and innovation capability in order to meet our global challenges even more effectively," Vittorio Merloni, chairman, said in a statement.
The shareholders’ meeting also authorized the Board of Directors to acquire and utilize the Treasury Shares and approved the appointment of Marco Milani as Board Director of Merloni Elettrodomestici.
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