Manufacturing, Real Estate, and Retail

Whirlpool selling overseas plant

September 20, 2019
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Whirlpool EMEA headquarters Milan Italy
Whirlpool's headquarters for its Europe, Middle East and Africa, or EMEA, operations is in Milan. Courtesy Whirlpool

An appliance maker in the region is selling one of its plants.

Benton Harbor-based Whirlpool Corporation is shedding its factory in Naples, Italy.

On Sept. 16, Whirlpool entered into a preliminary agreement to sell the plant to “a third-party purchaser and to support costs associated with the transition,” according to a company filing with the U.S. Securities and Exchange Commission. Finalization of the transaction is subject to the satisfaction of certain conditions precedent.

Whirlpool Corporation is incurring $127 million in costs to transition the plant to the seller, including $19 million in employee-related costs and $29 million in asset impairment costs, the filing says.

The sale price was not disclosed.

Whirlpool did not reply to a request for further information by press time.

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