LG, Haier May Bid for GE Appliances Unit PDF Print E-mail
Thursday, 29 May 2008 11:17
FAIRFIELD, CT LG Electronics and Haier Group have been cited as potential buyers of General Electric’s appliances unit, according to GE’s CEO Jeffrey Immelt, say published reports. However, the firms aren’t speaking on the record.

Immelt also named Mexico's Controladora Mabe, Sweden's Electrolux and Turkey's Arcelik as possible bidders, and mentioned a potential GE “spinoff.”
 
The division could draw offers of $3 billion to $8 billion, say analysts at Citigroup and Goldman Sachs. GE had appliance sales of $13.3 billion last year.
 
The named firms aren't talking. LG says it has not made a decision to bid for the GE unit. The company is “carefully monitoring” the sale of GE's appliances division, says CEO Nam Yong, according to reports. Haier has declined comment.
 
LG reported sales of $11.3 billion in 2007 from appliances. North America accounted for 29% of the division's first-quarter sales. Haier is expected to generate $1.4 billion in revenue this year.

Last Updated on Thursday, 29 May 2008 11:18
 

Columns

Eastern-US: China’s New Competitor?

Parity emerges among EMS Factories from Asia, Mexico and the US.

For the first time in years we see parity in the Eastern US among EMS factories from Asia, Mexico and the US. This EMS market condition will permit American OEMs (the EMS industry refers to OEMs as customers) to have more EMS pathways to choose from. Now more than ever, such EMS assignments will require deeper investigation relating to the OEMs’ evaluation of manufacturing strategies.

Read more...
 
The Human Touch

For those who count on the electronics industry for big feats, it’s been a remarkable couple of years.

Read more...
 

Features

Advances in Concentration Monitoring and Closed-Loop Control

Contaminated bath water skews refractive index results. New technology can accurately measure aqueous cleaning agent concentration.

Read more...
 
Circuits Disassembly: Materials Characterization and Failure Analysis

A systematic approach to nonconventional methods of encapsulant removal.

Read more...
 

Search

Search

Login

CB Login

Language

Language

English French German Italian Portuguese Russian Spanish
 

Products

KIC Debuts K2 Thermal Profiler
K2 thermal profiler has plug-and-play hardware and a graphical user interface said to make profiling both quick and easy. Enables each thermocouple to use its own unique process window, while...