After Versace to Michael Kors, another piece of Made in Italy goes away. In this case it is the Candy appliances which for 475 million pass into the Chinese hands of the Qindao Haier group.
The Fumagalli family company is back from difficult years and is only the last of the Italian brands to pass into foreign hands. The group listed in Shanghai announced the acquisition of 100% of the Italian company. «We are happy to join Haier», was the comment of Beppe and Aldo Fumagalli upon signing the «agreement relating to the combination of the activities of Haier and Candy and according to which Haier will invest 475 million euros to further accelerate its growth in the European market".
«Qingdao Haier and Candy Group», as stated in the official note, «share the same vision, which is to continue to improve the quality of life of families. We believe that Candy's capacity for innovation, technology and design combined with Italian style will integrate perfectly with Qingdao Haier's business model. Together we will better meet the growing demands for more personalized products and make people's lives better and easier." Following the completion of the transaction, Haier will establish its European headquarters in Brugherio in the province of Monza.
Candy has about 4.100 employees worldwide and the trade unions, who have expressed concern for the future of the approximately 1.000 Italian workers of the household appliance company in the only site left open on the peninsula, that of Brugherio. In the company, underlined a note from Fiom Cgil Brianza, «a climate of great apprehension has spread, we are waiting to receive the necessary information. We have seen the Chinese of Haier in the company in recent weeks and asked for explanations. But the company management denied that there were, in the short term, intentions to sell. On the 26th we met the company in Assolombarda and they said nothing about this scenario. We are very saddened to have acquired the news from the newspapers. We are equally concerned about our future», said Paolo Mancini, trade union delegate of Candy di Brugherio.
Meanwhile, on 27 September, a few hours after the transfer to the Chinese, the unions had rejected an agreement with the company which envisaged a 30% wage cut to avoid 200 layoffs, which had already been foreseen but then frozen in 2016 thanks to solidarity contracts, and increase the production of washing machines in Brianza, in the Brugherio plant, bringing back to the "parent company" a volume of around 200 washing machines that were expected to be produced in China.
