Samsung Acquires Amica’s Refrigerator and Washing Machine Manufacturing Facilities in Polandon Dec 23, 2009
WARSAW, Poland - December 22, 2009 - Samsung Electronics Co., Ltd. a global leader in digital media and digital convergence technologies, announced today it has acquired the Poland-based refrigerator and washing machine manufacturing facilities from Amica, the Polish home appliance manufacturer, in a deal valued at US$76 million. The acquisition includes Amica’s Poznan city factory and its assembly line for refrigerators and washing machines. It marks an important step toward Samsung’s goal of being a market leader in the European home appliance market, which is estimated to be around US$50 billion.
The establishment of a manufacturing base in Poland marks the seventh country around the world in which Samsung is producing home appliances. Previously, most Samsung appliance products sold in Europe have been supplied from China and other countries in Southeast Asia. Securing a production facility in Europe will significantly decrease the current supply chain lead time of more than four weeks and minimize distribution costs. The other countries where Samsung produces home appliances are Korea, China, Thailand, Malaysia, India and Mexico.
With this acquisition Samsung plans to begin producing side-by-side refrigerators. Samsung has the No. 1 market share in 16 countries in Europe for side-by-side refrigerators. Additionally, Samsung will produce a higher-capacity drum washing machine, which is a premium product in Poland.
“This acquisition provides Samsung with the assets it needs to reach the top of Europe’s home appliance market, due to the synergy generated by Samsung’s technology and excellent human resources in Poland,” said Sangheung Shin, President of Samsung Electronics European Headquarters
Mr. Shin and Rutkowski Jacek, President of Amica, finalized the preliminary agreement in Warsaw on December 22 to mark the completion of the acquisition.
Amica has been in business for 65 years in Poznan, which is located 320km west of Warsaw. Amica will continue to manufacture cooking appliances in Poznan following the sale of its refrigerator and washing machine manufacturing facilities.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2008 consolidated sales of US$96 billion. Employing approximately 164,600 people in 179 offices across 61 countries, the company consists of seven independently operated business units: Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, Semiconductor and LCD. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.