APPLIANCE Magazine :: Breaking News

U.S. Cooling Equipment Shipments Accelerate

Mon, 12 May 2008 00:00:00 -0700

With the cooling season fast approaching shipments of central air conditioners and heat pumps for March jumped 75% compared with last month, according to the Air-Conditioning, Heating, and Refrigeration Institute.

Combined U.S. factory shipments of central air conditioners and air-source heat pumps for March totaled 590,192, a 7% drop compared with the same month a year ago. For the year-to-date, combined shipments totaled 1.2 million, a 7% drop compared with the same period last year.

Heat pump shipments for March totaled 186,720, a 4.5% drop from the same month a year ago. For the year-to-date, heat pump shipments totaled 435,331, a 3% drop compared with the same period last year.

U.S. factory shipments of gas warm air furnaces in March totaled 200,544, a 26% drop compared with the same month a year ago. Oil warm air furnaces for the same month totaled 4,185, a 26% drop compared with March 2007 totals. For the year-to-date, gas furnace shipments totaled 528,153, a 17% drop compared with the same period last year. Oil furnace shipments for the year-to-date totaled 13,710, a 27% drop compared with the same period last year.

A total of 2,603 unvented room heaters were shipped in March 2008, an 11% drop compared with the same month last year. For the year-to-date, 12,429 units have been shipped, an 11% drop compared with the same 3-month period last year.

Residential electric water heater shipments for March totaled 380,074, a 14% drop from the same month a year ago. Residential gas water heater shipments totaled 385,448, a 15% drop compared with shipments for the same month last year. For the year-to date, 2.1 million residential gas and electric storage water heaters have been shipped, a 9% drop compared with the same period a year ago.

Commercial gas water heater shipments for March totaled 8,655, dropping 9% compared with the same month last year, while commercial electric water heater shipments totaled 6,772, jumping 9% compared with the same month a year ago. For the year-to-date, electric water heaters shipments are 4% ahead of total shipments during the same period last year. Commercial gas water heater shipments for the year-to-date are down 2%, compared with the same period a year ago.

Emerson Announces Executive Appointments

Mon, 12 May 2008 00:00:00 -0700

Emerson announced that Edgar M. Purvis, Jr. has been named executive vice president of Emerson and business leader of Emerson Climate Technologies, headquartered in Sidney, OH, U.S. Thomas E. Bettcher, who has been business leader since 1997, will become chairman of Emerson Climate Technologies to focus primarily on strategic planning and organizational development. The transition will take place over the next several months.

Purvis joined Emerson in 1983 as a product planner with Copeland. He assumed a number of senior management positions in air-conditioning marketing, sales and product planning, and in 1993 was appointed vice president of Marketing.

In 1995, Purvis was promoted to vice president of Sales and Marketing, and in 1996 became the president of Refrigeration, a position he held until 2003 when he was named group vice president of Refrigeration.

Best Buy and the Carphone Warehouse to Create New Company

Mon, 12 May 2008 00:00:00 -0700

The Carphone Warehouse Group PLC and Best Buy Co., Inc. agreed to form a new venture to accelerate their growth. The assets of the newly-formed company will comprise The Carphone Warehouse’s existing retail business, operating from more than 2400 stores in nine European countries under the Carphone Warehouse and Phone House brands; and The Carphone Warehouse’s share of its existing relationships with Best Buy.

Best Buy plans to acquire a 50% stake in the new company for a cash consideration of £1.1 billion, or US$2.1 billion.

On completion of the transaction, the Carphone Warehouse and Best Buy will each own 50% of the retail business, comprising all the 2400 stores, the web and direct businesses, the insurance operations, and its airtime reselling businesses. The Carphone Warehouse continues to own 100% of its fixed line telecoms business in the U.K., comprising TalkTalk, AOL Broadband and Opal; and its share of the Virgin Mobile France joint venture. Best Buy continues to hold its 2.9% stake in The Carphone Warehouse.

Aga Predicts Flat Sales; to Change Company Name

Mon, 12 May 2008 00:00:00 -0700

Aga Foodservice Group Plc, the U.K. maker of country-style stoves, said first-half domestic revenue from cast-iron cookers will be flat and sales in Ireland will fall on dropping consumer demand.

“After a bright start, our cast-iron cooker sales are expected to be flat in the U.K. in the first half and down in Ireland where the market is very weak,” the company said.

Aga sold its commercial-catering gear unit, which accounted for almost half of sales, in December to focus on its Rayburn, Rangemaster, and Aga consumer brands. The company said that orders of the company’s Rangemaster brand cookers have risen more than 5% this year. Buying more components from Asia and Eastern Europe will help offset rising commodity-price increases and widen return on sales to 12%, Aga said.

Separately, the company said it plans to change its name to Aga Rangemaster Group Plc, effective immediately.

Circuit City to Allow Blockbuster to Complete Due Diligence

Mon, 12 May 2008 00:00:00 -0700

Circuit City will allow Blockbuster and its largest shareholder Carl Icahn access to the retailer’s financial records allowing the latter to complete due diligence for a possible acquisition.

“Our decision to allow Blockbuster and Carl Ichan to conduct due diligence should not be taken as an indication that the board has completed its review of the Blockbuster proposal,” said Philip J. Schoonover, chairman/president/CEO of Circuit City.

The retailer also announced that it has retained Goldman Sachs & Co. to assist the company in exploring strategic alternatives to enhanced shareholder value.

Blockbuster officials said they are hopeful that the due diligence process will reinforce the strategic and financial rationale behind the deal. “We continued to believe this combination would create significant cost and operating synergies,” the company said.