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Electrolux begins production in Memphis

BY HBSDEALER Staff

Electrolux North America today announced that it has recently begun production on its first Memphis, Tenn.-made home cooking appliances. 

The inaugural products produced at the Memphis facility, the Frigidaire and Frigidaire Gallery slide–in ranges, rolled off the assembly line, were crated and loaded onto trucks for warehousing and retail distribution throughout the United States. This marks the culmination of a two-year construction effort of the $266 million facility. 

In addition to the two ranges, the plant will ultimately produce a variety of signature items, including Electrolux, Electrolux ICON and Frigidaire built-in and specialty cooking products, wall ovens and specialty freestanding ranges. The plant also features a test lab that can test up to 380 cooking products simultaneously. 

“We produce one out of every three ovens sold in the U.S.,” said Jack Truong, president and CEO of Electrolux Major Appliances North America. “Electrolux is committed to U.S. manufacturing and driving innovation. The new facility is efficient in its automation, but also relies on our skilled teammates to create our high-quality products.”

The Memphis plant has hired approximately 500 employees in manufacturing, engineering, supply-chain management, finance and operations management and will eventually employ 1,200 people over the course of the next five years as it reaches full production.

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HCN Stock Watch: Boon for Sears

BY HBSDEALER Staff

Stocks changed little on Monday, though both Sears (SHLD) and Sears Hometown (SHOS) were up significantly.

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Carrier plans joint venture with Bosch

BY HBSDEALER Staff

Farmington, Conn.-based Carrier signed an agreement with Robert Bosch North America Corp. to form a joint venture to develop and manufacture geothermal and water-source heat pumps for the North American residential and commercial segments. 

The transaction completion is pending necessary regulatory approvals. The financial terms of the agreement were not disclosed. 

Carrier, a world leader in high-technology heating, air-conditioning and refrigeration solutions, is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp. 

Geothermal heat pumps, which use the constant below-ground temperature of soil or water to heat and cool buildings, use 25% to 50% less electricity than conventional heating or cooling systems, according to stats from the U.S. Department of Energy. With sales of geothermal heat pumps expected to nearly triple by 2020, Carrier entered into the agreement to enhance its offerings and service to the growing market, the company said.

Moving forward, Carrier geothermal and watersource heat pumps will be developed and manufactured in Fort Lauderdale, Fla.

Sales channels and the respective brands for each company will remain independent of one another. 

“The Carrier team is excited by the opportunities this agreement will provide,” said Chris Nelson, president, residential and commercial systems, Carrier. “By bringing together the strengths of both companies … we will deliver a high level of value to our customers.”

“Geothermal heating is one of the most cost-effective and environmentally responsible heating and cooling options available to consumers,” said Richard Soper, president, Bosch Thermotechnology Corp.

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