Whirlpool to divest most of EMEA ops, form new entity with Arçelik

FMCG Turk

January 18, 2023

U.S. home appliances maker Whirlpool is folding its European business into a new company controlled by Turkish rival Arçelik, reducing its exposure to a market where it had warned attractive profit margins could be some way off

Whirlpool also said it had agreed to sell its Middle Eastern and African businesses to Arçelik, which the Turkish firm said was for 20 million euros ($21.65 million) in cash.

The moves come after Whirlpool launched a review of its Europe, Middle East and Africa (EMEA) operations in April 2022 and said login or sign up to read the complete news...