Samsung Electronics has taken over some of Poland's Amica's manufacturing facilities to prepare for the future of Europe's home appliances market. To acquire this, Samsung paid about 76 million US dollars, but it does not contain the company brand name.
This was a very useful acquisition for Samsung, which seeks to become the number one home appliance manufacturer in Europe. Now they will have a production base in Europe which will lower prices and upgrade efficiency.
With this deal, Samsung is acquiring Amica's 65 year old factory and their assembly lines located in Pozan about 320 kilometers west of Warsaw. This is the location where they manufacture refrigerators, washing machines, and microwaves. These assembly lines are capable of manufacturing about 450,000-500,000 home appliances annually.
This will mark the first time that Samsung Electronics has established a home appliance manufacturing location in Europe. Now, they have established factories in 7 different countries which include Korea, China, Thailand, Malaysia, India, Mexico, and lastly Poland.
A Samsung Electronics representative stated, "This is the first time we have established a factory in Europe. This deal makes it more convenient for us to compete in the European market." Up until now, most of Samsung's appliance products sold in Europe were made in either China or other Southeast Asia countries.
Samsung Electronic's Vice President Shin Sang Hoong stated, "Poland's superior human resources and manpower combined with Samsung's technological skills can make this deal very effective. Hopefully, with our combined efforts, we will leap to the top of Europe's home appliance market."
