Stop. The global scenario of M&A in the strategic sector of home technology (appliances, Smart Home, consumer electronics, climate, components, etc.) which seemed to have been concluded with the acquisition by the Beko group (of the Turkish conglomerate Koç, a global financial power) of Whirlpool (Europe, Africa, Russia and MO), is in convulsion. Not only because markets everywhere, even in Asia, remain negative (January-May the authoritative Gfk also certifies for Italy an almost -6 percent, i.e. 5,8) and this will cause changes. But also because the conclusion of the event is still suspended Electrolux affair (Midea, Hisense, Samsung or LG are in the running) and then because Whirlpool Us (what remains of the multinational) is about to be bought by Bosch. Which, however, is very different.
Bosch buys Whirlpool?
Months ago, a senior manager of the Stuttgart (Gerlingen) company confirmed in response to our question that, yes, the group had intentions of shopping but only to really and consistently increase the current perimeters. The news, recently released by Reuters e Reuters that the German group had made an offer to Marc Bitzer, CEO and president Whirlpool (Germans always understand each other) is very different from how it was spread. The buyer would not be the Corporation but the Robert Bosch Foundation, which is decidedly different since being a non-profit institution, it should not, for example, distribute dividends to shareholders. In addition to having very different tasks and opportunities from the Corporation. Not only….
Bosch, sensational scenarios
Given that Bosch absolutely must diversify its activities and investments (fewer cars in serious crisis), the problem is that the next American government will lower the ax of huge duties on everything that is not made in the USA and that the competition with the Chinese and Koreans is unequal and increasingly unsustainable. The agreement between the two companies would provide - according to rumor - the possible addition of Electrolux at very good prices for a new company entirely made in the USA (duty-free and indeed...) to be immediately listed on the Stock Exchange. Where financial capitals in search of opportunities and largely linked to the very flourishing and very skilled Jewish finance (present among other things in Whirlpool's pension funds and also linked to Bosch) are available. The Foundation has been thinking about it for months... It's not enough, very insistent rumors also refer to a agreement between Beko and Whirlpool to acquire Electrolux and proceed with listing. Behind these alleged movements lies the search for solutions that exclude Chinese capital and companies.
The accounts without the innkeeper, the straits and Boko Aram
From the Forecast Research of Allianz Trade comes the news that due to the worsening of the disasters on the nine straits of the world, companies expect a further drop in turnover of 15 percent and, mind you, almost only due to the blockade of the Strait of Tears, that is Bab Al Mandeb. Now in the hands not of pirates but of all the former Isis and Boko Aram dust that has moved from Africa to the straits for many months. And they grant pirates the "license" to work upon payment of a 20-30 percent bribe.
Who is saved?
The SMEs and above all the large, small and medium-sized companies that constitute the Italian trio of aces that continues to grind out export increases (Europe badly but North America, Asia, MO, etc. very well...). Three of aces three F: Fashion, Food e Supplies, which, and it is no coincidence, is based on manufacturing in Italy, on very low or zero levels of delocalisation and which in any case always produces quality and innovation. Like the rest Edi Snaidero (president of the European furniture makers) e Mary Porro (president of the Salone del Mobile Milano) confirmed to us. It is not true that there is no space for other sectors: for example in the European and global market in full crisis, the innovative air fryers invented by Philips are triumphing. Launched by kids, hungry for McDonalds, Tik Tok during and after Covid and today undisputed stars of a stagnant sector. For example, the new robots that clean and wash windows are triumphing (Ecovacs has produced a sensational series) without disastrous failures.....But only if they do it well.
And the Italian component manufacturers are pulling
We know that Italian companies have always been manufacturing strategic components for household appliances and which survived the tsunami of cheap Chinese products, work well today. There case history of the bell Pasell teaches a lot about how innovation can help. It manufactures counterweights for washing machines (without these the machines would dance around the house) for all the big names and in recent days it has opened a factory in Manisa on Turkish home appliance center. But always maintaining the production of the Campania factory.
