Whirlpool Confirms EUR250 Mln Italy Investment; Plans to Sell Naples Plant After Reconversion

Whirlpool (WHR), an appliance manufacturer, confirmed it will invest EUR250 million ($278.4 million) in Italy for the 2019 to 2021 period to enhance its industrial sites and said EUR80 million has been allocated to the sites this year.

The company reaffirmed its commitment to Italy as an industrial and market base for its Europe, Middle East and Africa operations at a meeting in Rome between Italian trade unions and management.

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Whirlpool confirmed specialization, production volumes and employment levels of the plants as detailed in its Italy Industrial Plan signed in October. It also confirmed the reshoring of built-in washing machine/washer-dryer production to Comunanza and said the site will benefit from an increase in production volume to over 800,000 units.

Whirlpool said it plans to proceed with the reconversion of its Naples site and to sell the business to a third party. The company will work with unions and other parties to define the details and timeframe of the reconversion in the coming days.