Samsung Looking To Buy Out Appliance Companies

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Samsung Australia is set to expand their appliance offerings in Australia in an effort to replicate the success they have had in the TV market say senior executives. Meanwhile Samsung globally have admitted that they are on the acquisition trail and are looking to buy a major brand.

Samsung Australia is set to expand their appliance offerings in Australia in an effort to replicate the success they have had in the TV market say senior executives. Meanwhile Samsung globally have admitted that they are on the acquisition trail and are looking to buy a major brand.  

Samsung claim that they will become the worlds second-biggest manufacturer of refrigerators this year and #1 by 2013 via an acquisition strategy.

“We are well aware that we cannot keep on growing in the TV market and there will be a point when we reach saturation. Currently we are working on expanding our appliance offerings in Australia and we will announce several new models shortly” said Mark Leathan General Manager of Marketing at Samsung Australia.

Last week, the shareholders of Polish home appliance maker Amica Wronki approved the sale of its refrigerator and washing machine factories to Samsung Electronics.

Amica will sell Samsung all their raw materials, spare parts and existing stocks necessary for manufacturing and supplying fridges and washing machines in the two factories at a price equal to their book value, which will be set before the conclusion of the final agreement.

In December last year, Samsung acquired two manufacturing facilities from Amica for $76 million.

 

 

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