BENTON HARBOR, Mich.,
July 3, 2015 /PRNewswire/ -- Today,
Whirlpool Corporation completed its purchase of American Dryer
Corporation (ADC), a privately held company that manufactures and
markets coin-operated, on-premise, industrial and specialty laundry
equipment.
The acquisition gives Whirlpool Corporation's commercial laundry
business a platform to reach new countries and channels, while
building on a strong foundation of industry-leading innovation,
quality, and service.
"Acquiring ADC strengthens our commitment to the commercial
laundry industry and is aligned to our objectives of driving growth
in adjacent businesses," stated Jeff M.
Fettig, Whirlpool Corporation chairman and chief executive
officer. "We believe this investment nicely complements our
leadership position in the overall laundry category."
"Our Maytag and Whirlpool brands have a strong
heritage in commercial laundry," said Brett
Dibkey, vice president, North American Integrated Business
Units. "The addition of ADC is yet another step toward our goal of
building the industry's best, most reliable full line of commercial
laundry equipment."
Whirlpool Corporation expects integration activities to happen
throughout the balance of 2015. American Dryer Corporation is
headquartered in Fall River, MA
and is home to approximately 230 employees, a 300,000 square foot
manufacturing facility and state-of-the-art engineering and design
center. This facility will become a valuable part of the Whirlpool
manufacturing portfolio that spans 14 locations across North America.
About Whirlpool Corporation
Whirlpool Corporation
(NYSE: WHR) is the number one major appliance manufacturer in the
world, with approximately $20 billion
in annual sales, 100,000 employees and 70 manufacturing and
technology research centers throughout the world in 2014. The
company markets Whirlpool, KitchenAid, Maytag,
Consul, Brastemp, Amana, Bauknecht,
Jenn-Air, Indesit and other major brand names in more
than 170 countries. Additional information about the company can be
found at WhirlpoolCorp.com, or find us on Twitter at
@WhirlpoolCorp.
Whirlpool Additional Information
CAUTIONARY
STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
Certain
statements in this press release relating to the acquisition and
integration of ADC constitute "forward-looking statements" within
the meaning of the U.S. federal securities laws. These statements
reflect management's current expectations regarding future events
and speak only as of the date of this press release.
Forward-looking statements involve significant risks and
uncertainties, should not be read as guarantees of future
performance and will not necessarily be accurate indications of
whether or not, or the times at or by which, events will occur.
Actual performance may differ materially from that expressed or
implied in such statements. These statements rely on assumptions
which may or may not be realized. For information about the factors
that could cause such differences, please refer to our Annual
Report on Form 10-K for the year ended December 31, 2014, including the information set
forth under the caption "Risk Factors."
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SOURCE Whirlpool Corporation