Household appliance manufacturer Indesit and Hotpoint leaves Russia
The American company Whirlpool Corporation, which owns the Indesit and Hotpoint trademarks, will sell its assets in Russia (Indesit International JSC and Whirlpool Rus LLC) to the Turkish manufacturer of household appliances Arcelik.
According to the results of the transaction, Arcelik will receive production facilities in Lipetsk, allowing the production of about 2.8 million refrigerators and washing machines per year. The deal is tentatively estimated at 220 million euros.
Whirlpool acquired the Italian corporation Indesit in 2014.