The announcement of the Whirlpool corporation of a rapid definition – albeit with the necessary bureaucratic times – on the fate of the EMEA subsidiary, which arrived surprisingly quickly precisely with the communication of the group's quarterly results, has put an end for the moment to the many and inevitable gossip. And the clarity of communication together with transparency on the company's future moves – thanks in all likelihood to the European top management and in particular to the executive vice president and president of Whirlpool EMEA Gilles Morel – was at the center of the EWC videocall, European Works Council, particularly appreciated by the European representatives of the trade unions, because in its conciseness it outlines what will happen in the coming months.
First of all we can anticipate that, due to the bureaucratic complexities (enormous if a Chinese multinational were to prevail) the announcement of the definition would then have a follow-up of at least 6-9 months of negotiations. The first date for a quick update, as Morel has assured, with the eventual announcement of the buyer can even arrive at the time of the communication on thelast quarter of the current year. And then, there should be more updates on January 26th.
Whirlpool: is Europe attractive again?
Two dates that could also reveal the'other hypothesis, that of a lack of an agreement for the sale and in this case there are two possibilities, a review of the other offers but, more likely, the decision of the Corporation to keep the EMEA branch. In this case - comments a non-Italian trade unionist - the problem is the corporate board which, accustomed to profits of 8 per cent, should "settle" for that 2-3 per cent that Emea was able to guarantee because - comments the trade unionist - however, the business remains sustainable. And, despite that margin emea was the only negative in this quarter, the business in the European area may have become more attractive because it boasts short supply chains unlike North America where the drop in sales depends precisely on the supply chains with increasingly expensive logistics and unpredictable and non-programmable times.
In fact, the North American majaps market is mostly supplied by increasingly struggling Asian factories. In summary, sales are down because the expensive worldwide logistics and semi-blocked does not deliver the products, components, raw materials and moreover, as the CEO Marc Bitzer recently declared, the shortage of manpower. Those affected are above all those markets such as that of North America, largely dependent on outsourced factories. And they will always be more. A less serious dependency in Europe due to the presence of various advanced production centers and with local supply chains.
Whirlpool: the flop of the Naples consortium
And it was precisely on a large and dynamic district of component manufacturers that theformer washing machine factory high-end Whirlpool of Naples, closed after a senseless management by the 5 Stars together with violent fringes of some union representatives who have long objectively prevented, intogether with other problems of a non-industrial nature, less drastic solutions.
The meeting held at the end of last week at the Mise was supposed to sign the definitive passage of the site given free by Whirlpool to the consortium of companies set up at the time to create a sustainable mobility production hub. And instead it was a flop, the consortium evaporated, lat the head, the Eagle, has been on parade for months and so at the Mise table they found themselves again, in addition to Mise officials and union representatives, il Prefect of Naples, City of Naples, Commissioner of the Zes (Special Economic Zone) and the Campania Region but no consortium. The final memorandum of understanding speaks of a possible acquisition of the site by Zes.
"In the report, the Municipality of Naples - states the joint press release of the trade unions - confirms the maintenance of the industrial vocation of the area. The Commissioner of Zes Campania declares his willingness, in the presence of the appropriate regulatory conditions, to acquire ownership of the via Argine site by 30 November 2022, in order to secure the plant with the commitment to transfer it at a later time to entity that will take care of the reindustrialization with the constraint of absorbing all the workers and under the same economic and regulatory conditions as the company of origin".
All uncertain, even the commitment, made at the time by Invitalia, to partially finance the consortium. The only certainty is that Whirlpool, after having paid each of the 317 employees of the factory a fine of 100 thousand euros, and having made the area available free of charge, was ready to sign the transfer of ownership before the notary . Pass postponed. A big problem that the new government will have to handle very carefully.
