Transcom Group, Whirlpool Corporation jointly invest in refrigerator plant
The world’s leading kitchen and laundry appliance company Whirlpool Corporation and Transcom Group, one of Bangladesh’s leading business conglomerates, will jointly set up a state-of-the-art refrigerator plant in Narsingdi district.
This was announced on Monday in a joint statement issues by Transcom Group in Dhaka and and Whirlpool Corporation in Michigan, USA.
Spread over approximately 85,000 sq ft, the plant will adhere to Whirlpool Corporation’s World Class Manufacturing standards, coupled with Transcom Group’s focus on high-quality manufacturing, business excellence and legacy.
The plant will manufacture a wide range of technologically advanced refrigerators for sale by Whirlpool and Transcom under their respective brands, the statement says.
Whirlpool Corporation is the leading kitchen and laundry appliance company in the world, with approximately USB 20 billion in annual sales, 77,000 employees and 59 manufacturing and technology research centers in 2019.
The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and other major brand names in nearly every country throughout the world.
In the statement, Samuel Wu, Executive Vice President and President of Whirlpool Asia, said, “Bangladesh is an important country for Whirlpool Corporation and an emerging economy where we see significant growth opportunities and through this venture we are demonstrating our ambition in this marketplace.”
He added, “We are pleased to have a trusted partner in Transcom to help us accelerate our presence in South Asia and develop a state-of-the-art manufacturing plant that is capable of delivering high quality refrigerators to serve consumers in Bangladesh.”
The statement also cites Transcom Group, as one of the largest, most diversified and fastest growing business conglomerates in Bangladesh.
Transcom’s Founding Chairman Latifur Rahman, built the group on a foundation of ethical values and business excellence. The group has core strength in high quality manufacturing and has businesses across eight industries ranging from pharmaceuticals, beverages, foods, media, consumer products, insurance, electronics and tea.
Transcom has its presence in 54 countries and employs more than 20,000 people.
Commenting on the partnership, Transcom Group Chief Executive Officer Simeen Rahman, said, “Bangladesh’s growing economy and rapid urbanisation presents a great opportunity to establish world class local manufacturing in the electronics and appliances sector. We are delighted to partner with Whirlpool Corporation to set up a first-of-its-kind global joint venture manufacturing facility that will not only offer access to the best refrigeration technology but also create opportunities for local employment.”
She added, “The partnership will augment Whirlpool Corporation's presence in Bangladesh and allow us to strengthen our business pursuits in the electronics and home appliances industries.”
A leader in refrigeration globally, Whirlpool Corporation offers an innovative range of products to suit the needs of every family. Whirlpool Corporation and Transcom joint venture is looking forward to setting new benchmarks in manufacturing, the statement says.