Indesit

Company history

In the 80’s, with the release of other Italian companies to foreign groups of appliances, Merloni Household became the first domestic producer in the industry. Since 1981 the Company was going through a crisis period, which ended in 1984, when Vittorio Merloni, having concluded its president of Confindustria, returning to driving. Profits and revenues from the Company grew, and this led the Merloni family in 1986 to decide his entry into the stock market.

In 1987, Merloni Elettrodomestici, already listed on the stock exchange, acquired Indesit, its great rival on the Italian market but also having a certain international presence, and the 33% of Philco Italy.

In 1988, Merloni, under the Ariston and Indesit brands, had a turnover of 1.059 billion dollars, becoming the fourth European manufacturer of home appliances. The following year, acquired and absorbed the French company Scholtès.

In 1990, Merloni capital entered Marcegaglia, its supplier of steel tubes, which detected 7% of the shares. In the same year the Company had approximately 6,000 employees in various establishments including France, Portugal and Russia.

In 1994, Merloni had a turnover of 1,920 billion lire with a market share of 10% in Europe. The following year took over one third of the capital of Star S.p.A. (Società Trevigiana Apparecchi Riscaldamento), an Italian company of Conegliano Veneto producer of kitchen hoods, which will be fully acquired in 2002 and merged with the Company in 2003.

In 1999, through Fineldo, the holding of Merloni family, acquired Panini, the stickers manufacturer.

In 2000, took over the entire capital of Philco and acquired Stinol, the first Russian producer of household appliances.

The Company of Fabriano in 2002 entered the consumer electronics industry with the purchase of Sinudyne.

In February 2005, Merloni Elettrodomestici was renamed Indesit Company: Indesit is the best known of the Group’s brands outside Italy.

At the beginning of 2007, Indesit Company launched the Group’s new brand architecture: Hotpoint brand is combined with Ariston to form the Hotpoint-Ariston brand.

Andrea Merloni from 2010 succeeded his father Vittorio to lead the Company as the new Chairman.

On the 9th of June the Company announced an investment of 120 million over the 3-year period 2010-2012 to consolidate its presence in Italy and simultaneously the closure of the two plants Brembate (Bergamo) and Refrontolo (Treviso).

The figures

Brands

External links

Category:Italian brands Category:Companies of Italy Category:Companies listed on the Borsa Italiana Category:Home appliance manufacturers Category:Companies established in 1930