Thursday, December 07, 2006

Whirlpool to Sell Hoover to Hong Kong Company

Appliance maker Whirlpool has found a buyer for Hoover, the vacuum-cleaner company it picked up through its acquisition of rival Maytag in March. Whirlpool said Thursday it would sell the Hoover unit for $107 million in cash to Techtronic Industries, a Hong Kong-based company whose brands include Ryobi power tools and the Dirt Devil vacuum cleaner. Whirpool acquired Maytag in March for $1.9 billion in cash, stock and acquisition-related expenses.
Go to Press Release from Whirlpool via PRNewswire »

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