•65,682 employees (Year End Average Staff as of 12/31/05) •Whirlpool North America, headquartered in MI, saw revenues of $8.9 billion •Whirlpool Europe, operations center in Italy revenues of $3.2 billion •Whirlpool Latin America, headquartered in Brazil delivered regional revenue of $2 billion •Whirlpool Asia, headquartered in Peoples Republic of China reported revenues of $422 million •There are 7,438 shareholders of Whirlpool Corporation’s stock and its closing stock price was $87.31 as of November 7, 2006 •For the quarter ending March 31, 2006, net income increased 37.2% to $118.0 million from $86.0 million in the year-earlier quarter. •March of 2006 the company acquired Maytag Corp. and announced that it is expected to generate pre-tax annualized cost savings of over $400 million from cost efficiencies from all areas of the value chain. •Net income is $422,000,000
Tatramat was the leading manufacturer of washing machines in Czechoslovakia, controlling almost 88% of the market. For many years the company produced household consumer goods. When the company merged with Whirlpool they changed their principal focus to the manufacture of water heaters. Today, Tatramat is a supplier of parts to Whirlpool’s production of washing machines. •various water heaters which include electric, gas, interchanger and solar models, with volumes ranging from 5 to 500 liters •Also produces tin parts and components, cables, plastic molded parts and components, polystyrene heating panels and building parts, custom molded polystyrene •Has seven domestic and four foreign subsidiaries which are in the Czech Republic, Poland, the Ukraine and Germany •Exports its products to 16 countries in Europe including Belgium, Belarus, Bulgaria, Czech Republic, Estonia, Lithuania, Latvia, Hungary, Germany, Poland, Austria, Romania, Russia, Serbia and Montenegro, and Ukraine •The company gained exposure into the North American market in 2001-2002 by opening market development in Canada and the United States •Uses a strategy of partnering with foreign producers in order to generate new sales opportunities and to expand their partner’s offerings. (www.tatramat.sk)
Whirlpool made the best possible decision at the time when the company chose an international joint venture as its participation strategy. The company entered the joint venture with the primary motives of entering the Central and Eastern...