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

Mitsubishi Electric May Acquire Japanese Laundry Appliance Maker
May 16, 2005
 Printable format
 Email this Article
 Search

Appliance maker Mitsubishi Electric Corporation and home laundry appliance maker Nihon Kentetsu Co., Ltd. announced that they would explore making Nihon Kentetsu a 100-percent subsidiary of Mitsubishi Electric through an exchange of shares in accordance with Japanese Commercial Code.

The decision was made at meetings held by the executive officers of Mitsubishi Electric as well as the board of directors of Nihon Kentetsu in which both sides concluded a Memorandum of Understanding (MOU) concerning the exchange of shares.

Mitsubishi Electric group has been persistently pursuing reform of its business structure in order to better respond to changes in business environments from the three perspectives of "growth," "profitability and efficiency," and "soundness," in order to establish a solid business foundation.

Nihon Kentetsu operates primarily in the home laundry and commercial refrigerated cabinets markets. The business environments of those industries have become increasingly severe in recent years. Implementation and progress of tough measures in development, production, and sales areas have become a pressing issue for the company.

Mitsubishi Electric said it intends to make Nihon Kentetsu a 100-percent subsidiary company through a share exchange in order to achieve as quickly as possible the business integration of Nihon Kentetsu's appliance businesses and Mitsubishi Electric Group's home appliances and air- conditioning and refrigeration systems to increase its competitiveness.

Back to Daily News

 

Daily News

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

Dec 17, 2014: Bosch names Kenny head of marketing

Dec 17, 2014: Multifamily Production Index off its peak, but still positive

Dec 17, 2014: AHRI launches two new certification programs

Dec 16, 2014: Ar├želik awarded for fridge with integrated ice-cream bowl

Dec 16, 2014: Report: appliance segment at the top of 2014 reshoring list

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