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GE to Exit Appliance Business

May 16, 2008

General Electric Co. will sell or spin off its century-old appliances unit, saying the business was too focused on the United States.

The appliance arm, which employs about 13,000 people worldwide, is the area of GE hardest hit by the two-year U.S. housing slump, as the company sold a lot of its dishwashers and refrigerators to home builders.

The Louisville-based business, which last year generated $7.2 billion in revenue, could appeal to an Asian manufacturer looking for a well-known American brand, analysts and investors said. They estimated the appliances business could sell for $4 billion to $8 billion and cited South Korea’s LG Electronics and China’s Haier as among possible suitors.

“With the weak dollar, this could look more attractive to an overseas company trying to get a big foothold in the U.S. market,” said Matt Collins, capital goods analyst at Edward Jones in St. Louis.

Over the past five years, the Fairfield, Connecticut-based conglomerate has sold off businesses that generated about $52 billion in revenue, including its plastics unit, as it seeks to move away from slower-growing and more volatile market segments in favor of long-cycle businesses with global exposure, like jet engines and commercial finance.

“This review is consistent with the strategy we have been executing to transform our portfolio for long-term growth,” said Jeff Immelt, chief executive of the second-largest U.S. company by market capitalization, in a statement. He added that the $7.2 billion appliance unit, which is based in Louisville, “remains primarily a U.S. business, meaning its fortunes are tied to the rise and fall of a single market.”

While GE’s appliances unit is a relatively small slice of the conglomerate — last year it accounted for 4 percent of GE’s $173 billion in total revenue — it is the No. 2 player in the U.S. appliance industry, trailing Whirlpool Corp. It has been hard hit by lower-priced competition from Asian rivals including LG and Haier. (Reuters)

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Whirlpool Brings CE Connectivity to Refrigerators

May 16, 2008

At least two of every three consumers consider their kitchens cluttered, according to a recent survey conducted by Whirlpool.

 Whirlpool refrigerator’s centralpark connection offers consumers a solution to this dilemma with a simple plug-and-play platform for interchangeable consumer electronics devices. iGo®, a brand owned by Mobility Electronics, Inc. is the newest device partner to join the centralpark connection lineup.

The centralpark connection allows consumers to power and use consumer electronics right on the refrigerator door. The newly planned compatible device, the iGo recharging station, provides an additional option to families with varying needs.

iGo will offer a compatible recharging station that is compatible with the centralpark connection. The station will charge cell phones, MP3 players and virtually every other type of gadget, helping consumers keep their counters clear of charger and cable clutter.

The iGo gadget-charging module will be compatible with all iGo tips, allowing consumers to charge over 2,700 different gadgets with the simple switch of a tip. These tips are available online (http://www.igo.com) and at retail locations nationwide. 

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Dacor Launches Outdoor/Indoor Refrigerator

May 8, 2008

Dacor introduced its Epicure Indoor/Outdoor Refrigerator. Designed to fit under any counter in an outdoor patio or kitchen layout, the unit is 33 inches tall and 24 inches wide and will easily slide into standard cabinetry openings.

The refrigerator features a digital electronic control panel and a charcoal filter helps remove unwanted odors, while a vibration-free compressor ensures quite operation.

Available with a stainless steel door with left- or right-hand door swing options, the refrigerator is built to withstand temperatures from 50 degrees to 109F and can hold 124 cans of soda or 50 bottles of wine. 

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Maytag Announces New Steam Dishwasher

May 7, 2008

Whirlpool Corporation introduced a dishwasher that features its industry-leading SteamClean option under the Maytag brand.

With a MSRP of $599, Whirlpool says it is the most moderately priced steam option dishwasher on the market. Whirlpool acquired Maytag brand in 2006 and was the first in the industry to launch a steam option in dishwashers about a year ago.

The high-heat steam option is said to help remove stubborn residue and deliver spotless glassware and dishes on the first wash, every time.

According to a national survey Maytag conducted to learn more about dishwashing habits, more than half the respondents said they worry that their current dishwasher won’t get dishes clean enough. Of those who end up re-washing dishes, two of the top five reasons are to remove “film” residue on glassware and to remove spots on glasses, silverware and plates.

Maytag brand’s new SteamClean option adds 24 minutes to the end of the wash cycle. Here, dishes and glassware are inundated with high-temperature steam, which loosens soils — such as fruit smoothies and tomato juice — from glassware. The SteamClean option ends with a 154F rinse to wash away any remaining residue.

The new dishwasher also features a stainless steel tub interior, which retains heat for better drying and resists staining for longer wear; the Jetclean II Power Module, which features the most active spray jets of any tall tub dishwasher; and heavy-duty DuraGuard Nylon Racks, which protect dishes and glassware from scratches and damage while resisting rust. The dishwasher is also Energy-Star qualified, using less water and energy for lower utility bills. 

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Whirlpool Expands Legal Action Against LG

May 2, 2008

Whirlpool Corporation has taken aggressive, new legal steps against LG Electronics Inc., of South Korea, and its U.S. and Mexican affiliates.

Whirlpool has asserted four additional patents against LG in an action pending in Delaware district court. Whirlpool Corporation’s claims in that action state that several LG-manufactured refrigerator products imported into the U.S. infringe on these additional patents. Whirlpool is asking for injunctive relief and monetary damages in the matter.

The patents safeguard proprietary technologies associated with product reliability, performance and quality, including:

• Structure and stability of the refrigerator interior;
• Quality and performance of ice dispenser; and
• Food storage features.

“Whirlpool Corporation is again taking aggressive legal steps to vigorously protect our proprietary products and technologies from infringement,” said Phillip Pejovich, vice president, refrigeration, Whirlpool Corporation North America Region.