[PConline News] In a short span of two months, large-scale mergers and acquisitions of household appliances companies in Europe and the United States have shown continuous growth in the home appliance market, the renewed demand of the home appliance market, and the offensive posture of the European and American established manufacturing companies, which will further affect the economic recovery in Europe and the United States. With the global white electricity industry, it will be more difficult for Chinese companies to borrow ships to go to sea.
Europe and the United States continued to take place in large-scale acquisitions
Recently, the United States General Electric (GE) announced that it will transfer its home appliance business to Electrolux of Sweden for US$3.3 billion. This price exceeds the previous market forecast of US$2.5 billion, making it the largest domestic appliance industry in recent years. Mergers and acquisitions. In the home appliance market in the United States, Electrolux is the second-largest brand behind Whirlpool. By taking over the GE appliance business, Electrolux will further expand its market share in the North American market.
Electrolux said that the acquisition of GE appliances will increase the company’s sales in the United States market by more than double to more than US$10 billion. According to industry analysts, in addition to strengthening the strength in the North American market, Electrolux will also take this challenge to Whirlpool's global dominance.
However, Electrolux lost to old rival Whirlpool 2 months ago. On July 10, Whirlpool announced that it has acquired a 60% stake in Indesit, Italy’s largest home appliance manufacturer, for 758 million euros (about US$1 billion), thereby doubling its business in Europe.
In a short span of two months, large-scale mergers and acquisitions have taken place in home appliances companies in Europe and America. In the context of economic recovery, the demand for the home appliance market continues to grow. Older European and American manufacturing companies have renewed their offensive stance and may further affect the world in the future. White electricity pattern.
Changes in the global white electricity industry
Since the financial crisis in 2008, the pattern of the global white electricity industry has undergone profound changes. The white electricity industry sectors in developed countries such as Europe, the United States, Japan and South Korea have all fallen into the quagmire of recession, and the white electricity industry backed by the domestic market has developed rapidly. The plane is deployed overseas. However, in the current economic recovery, the government to promote the manufacturing revitalization plan and other backgrounds, the white and white giants of Europe and the United States are not willing to take a back seat in recent years, trying to set off a new round of expansion through mergers and acquisitions.
According to industry analysts, the global home appliance industry or interpretation of the new "triple killing" pattern. In fact, in addition to the two large acquisitions mentioned above, Electrolux also acquired the Egyptian Olympic Group in 2011, and Whirlpool announced last year that it would spend RMB 3.4 billion to acquire a 51% stake in Hefei Sanyo.
M&A did not affect domestic consumers
In this regard, industry experts Liang Zhenpeng analysis believes that in the European and American markets, the home appliance industry with fierce market competition is a recessionary industry that is constantly marginalized. Apart from Whirlpool and Electrolux, they are still sticking out. Giants such as Siemens, Philips, and GE have all Through the outsourcing, joint ventures, sales and other ways to exit the appliance business. Japanese companies are also constantly shutting down production lines and selling assets. In the future, the home appliance industry will be dominated by Chinese and Korean companies. However, he also said that the above mergers and acquisitions will make Chinese companies' competitive pressure on overseas markets significantly increase.
It is understood that, except for a few imported high-end products, GE Appliances has not entered the Chinese market, but has long been purchasing home appliance products and raw materials and components in China. The major markets in Italy have been concentrated in Europe. Therefore, these two mergers and acquisitions Domestic consumers have no influence and they are at a disadvantage to some Chinese companies wishing to take a boat to the sea.
Chinese brands look "foreign" sigh
Compared with Japanese and Korean brands, Chinese home appliance products are primarily based on OEM processing in European and American markets. The acquisition of local brands has become an important way for Chinese companies to accelerate their international deployment. For example, Haier acquired New Zealand Fisher & Paykel, Huayi Compressed and acquired Cubigel from Spain.
In this GE appliance bidding, Haier is also one of the rumored buyers, but it has not been confirmed by Haier. In fact, in May 2008, General Electric tried to sell its home appliance business. At that time, Haier, Samsung, and LG all intended to take over and later suspended sales due to the global economic recession. In addition, in 2005, Haier also participated in the bid for the US home appliance third-year Metsek, but eventually lost to Whirlpool.
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