American Management Assoc. Training Programs

A leader in the United States laundry appliances market announces alliance with Korean electronics giant

Manufacturing News Center

NEWTON, Iowa and SEOUL, Korea --February 25, 2004-- Maytag Corporation (NYSE: MYG) and Samsung Electronics Co., Ltd. announced they have signed an agreement for Samsung to manufacture high-efficiency, front- load laundry products for Maytag.

The strategic agreement is designed to expand Maytag's existing laundry product lines and strengthen its market position, both in the United States and internationally. Maytag plans to continue manufacturing laundry products in the United States.

"Since these laundry models will all be new for Maytag, this agreement will help us increase the variety of laundry products Maytag offers to consumers worldwide, while continuing our tradition of dependability and innovation," said Ralph F. Hake, chairman and CEO of Maytag Corporation. "This laundry partnership will combine the best of Maytag's design, testing, consumer research, marketing and sales expertise with Samsung's laundry and electronics knowledge and world-class manufacturing capability."

Samsung Electronics Co., Ltd. Executive Vice President Moon Yong Lee said, "We're pleased to cooperate with Maytag, a leader in the United States laundry appliances market. Our advanced technology, along with Maytag's product development, engineering and design expertise, will ensure we maintain the highest standards of quality that customers expect."

These laundry models initially will be marketed exclusively under the Maytag and Amana brands and will be sold through normal Maytag distribution channels beginning later this year in the United States and international markets. The laundry agreement will serve as a basis for discussions about other potential business cooperation, Hake said.

About Maytag:

Maytag Corporation is a leading producer of home and commercial appliances. Its products are sold to customers throughout North America and in international markets. The corporation's principal brands include Maytag(R), Amana(R), Jenn-Air(R), Jade(R), Hoover(R) and Dixie-Narco(R). Approximately 90 percent of all manufacturing across the entire corporation takes place in the United States. In addition, 96 percent of Maytag Appliances manufacturing employees are located in the United States, where the corporation operates 12 manufacturing plants, including four laundry facilities.

About Samsung:

SAMSUNG electronics subsidiaries include SAMSUNG Electronics, SAMSUNG Electro-Mechanics, SAMSUNG SDI, SAMSUNG Corning, SAMSUNG SDS, SAMSUNG Networks and SAMSUNG Corning Precision Glass. These affiliates produce, market, and sell a wide variety of electronic parts and components such as next generation memory chips, computer and telecommunications equipment, color TV picture tubes, and glass bulbs. They also develop computer systems and produce general electronics and precision machines.

Samsung manufactures all types of washing machines from twin tub to front loading in order to supply products suitable for customers throughout the world.

WE WANT YOUR FEEDBACK.

Did you find this material interesting?
Do you want more information of this type?

Comment via FEEDBACK

What related topics would you like to see covered?
What additional information on this topic would you find useful?

Source: Maytag Corporation and SAMSUNG

Copyright - Unless otherwise stated all contents of this web site are © 1998/2004– JOBWERX.COM. – All Rights Reserved. For permission to reproduce any contents of this web site, please advise our Syndication department: Log onto HELP

Have you seen the Great Deals from top brand name manufacturers? You haven't? What are you waiting for? Get insider promotions. Click Here for deals

Jobwerx makes no representation as to the accuracy of information transmitted herein.