By Adam Coleman
NEWTON, IOWA (USA): Maytag, the US whitegoods manufacturer being taken over by Whirlpool Corp, has announced it may offer the once iconic Hoover floorcare business up for sale, after posting a fourth quarter loss of $US75 million ($A100 million).
With $US42 million in expenses for a factory closing and $US10.2 million in costs for the purchase by Whirlpool, Maytag chief executive, Ralph Hake said he was extremely disappointed with the results and may have to sell two business units including the Hoover business.
"Whirlpool’s merger agreement with Maytag gives it the right to review any such divestitures. We can no longer carry the burden of this underperforming product line, so we’re now exploring other strategic options including the sale of our floor care business," said Hake in a statement.
"At the end of the day it may be up for sale and all options will be considered – possibly a restructure and there is still the Whirlpool part to all this. They have to approve any sale of any business. To speculate as to what is going to happen in Australia, there is a lot of water to pass under the bridge before now and then, so it is pointless me commenting any further," he said.