WHIRLPOOL OF INDIA: CAUGHT IN THE RECESSION WHIRLPOOL
Article Abstract:
Whirlpool of India has accumulated losses of Rs225.73 crore. It plans financial restructuring. It needs Rs107 crore to repay debentures and loans and Rs18 crore for working capital. It proposes to issue rights share in the ratio of 1:1. Its rights share is priced at a premium of Rs2, aggregating Rs76.12 crore. Its equity will get doubled at Rs126.87 crore after the rights offer. Apart from the rights share issue, it is availing loans of Rs50 crore. It recorded sales of Rs672.87 crore and loss of Rs30.37 crore in the 15 months ended March 1998. It has a share premium of Rs286.48 crore which will be used to clear the losses. Whirlpool Corporation of USA has 82 percent stake in Whirlpool of India. The public holds 13 percent stake in Whirlpool of India. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BESTAVISION ATTRACTS HITACHI, HAIER, DNF FOR TIE-UPS
Article Abstract:
Bestavision is restructuring its business into five separate profit making units - washing machines, picture tube, deflection components, colour televisions and black & white televisions. The company has entered into technical collaboration with Hitachi of Japan to make 25-inch and 29-inch colour televisions in India. It has a technical collaboration with a $30 million Haier of China for manufacturing and marketing washing machines. It will launch fuzzy logic machines in the coming months. It has entered into alliance with DNF Corporation of Korea for producing 50,000 coloured and 50,000 black & white deflection components in India. (gs)
Comment:
Restructures bsns into 5 profit making units, washing machines, picture tube, deflection parts, color TVs & black & white TV
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MERGER OF FINANCIAL ARM TO BOOST WoI's BORROWING CAPACITY
Article Abstract:
Whirlpool of India (WoI) plans to merge its finance subsidiary, Whirlpool Financial India Pvt Ltd (WFI) with itself to increase its borrowing capacity. The stake of Whirlpool Corporation of the US will increase to 71 percent in WoI after the merger of WFI. WoI plans to float a rights issue soon and this may increase its paid-up equity to around Rs100 crore. WoI produces refrigerators and washing machines. (khr)
Comment:
Plans to merge finance subsidiary Whirlpool Financial India with itself to increase its borrowing capacity
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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