Whirlpool Corp, Transcom Group form making joint venture

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Whirlpool Company, world's leading home and laundry appliance organization, and Transcom Group, among the renowned business houses in Bangladesh, yesterday announced a great agreement to create a manufacturing plant in joint venture to create refrigerators in the country, said a press declaration yesterday.

People's growing income and quest for ease are fueling demand for kitchen gadget and encouraging global companies such as Whirlpool to create facilities here.

The plant, spreading over approximately 85,000 square feet area, will adhere to Whirlpool Corporation's top notch manufacturing standards, in conjunction with Transcom Group's give attention to high-quality manufacturing, organization excellence and legacy, the statement said.

The plant in Narsingdi, the northeastern district of Dhaka, will manufacture a variety of technologically advanced refrigerators on the market by Whirlpool and Transcom under their respective makes.

"Bangladesh is a significant country for Whirlpool Company and an emerging overall economy where we see significant growth possibilities and through this venture we are demonstrating our ambition found in this marketplace," explained Samuel Wu, executive vice president and president of Whirlpool Asia.

"We are very happy to have a reliable partner like Transcom to help us accelerate our occurrence in Southern Asia and develop a state-of-the-art manufacturing plant that is capable of delivering top quality refrigerators to serve customers in Bangladesh."

With approximately $20 billion in total annual sales, 77,000 employees and 59 developing and technology exploration centers in 2019, the USA-based appliance maker Whirlpool marketplaces Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and other main brands in nearly every country across the world.

Commenting about the partnership, Simeen Rahman, ceo of Transcom Group, explained Bangladesh's growing market and rapid urbanisation present an excellent chance to establish world-class neighborhood manufacturing unit in the consumer electronics and appliances sector.

"We happen to be delighted to spouse with Whirlpool Company to set up a first-of-its-kind global jv manufacturing facility that won't only offer usage of the very best refrigeration technology but also create prospects for local employment," she said.

"The partnership will augment Whirlpool Corporation's occurrence in Bangladesh and invite us to strengthen our organization pursuits in the electronic devices and kitchen appliances industries."

A head in refrigeration globally, Whirlpool Company offers an innovative selection of products to match the needs of each family. Whirlpool Company and Transcom joint venture is looking forward to setting innovative benchmarks in manufacturing, said the press statement.

Built on a foundation of ethical ideals and business excellence by the Founder Chairman Latifur Rahman, Transcom Group is probably the largest, most diversified and most effective growing conglomerates in Bangladesh.

The group has a core strength in high quality developing and has businesses across eight industries ranging from pharmaceuticals, drinks, foods, media, consumer products, Insurance, electronics and tea.

Transcom has its presence found in 54 countries and employs a lot more than 20,000 people.
Source: https://www.thedailystar.net

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