Whirlpool sells majority ownership of Brazil compressor business

("whirlpool fever" by frankieleon, CC BY 2.0)

Whirlpool Corporation is selling a part of its business to a Japanese company.

Tuesday, the Whirlpool Corporation announced that it has agreed to sell it’s Embraco compressor business to Japan’s Nidec Corporation for just over 1 billion dollars in cash.

Reuters reports the move by the Benton Harbor-based company comes as they refocus their efforts on consumer-facing products. Embraco, based in Brazil, has been a Whirlpool majority-owned business for more than 20 years, and has 11,000 employees around the world.

The deal is not expected to have a material impact on Whirlpool’s 2018 financial results, and they intend to execute open market share repurchases throughout 2018 after the completion of the tender offer.


Please enter your comment!
Please enter your name here