Maytag Corporation and Samsung Electronics Co., Ltd. Announce Strategic Alliance Agreement
24 2월 2004 - 11:00PM
PR Newswire (US)
Maytag Corporation and Samsung Electronics Co., Ltd. Announce
Strategic Alliance Agreement NEWTON, Iowa and SEOUL, Korea, Feb. 24
/PRNewswire-FirstCall/ -- Maytag Corporation and Samsung
Electronics Co., Ltd. announced today they have signed an agreement
for Samsung to manufacture high-efficiency, front- load laundry
products for Maytag. (Logo:
http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO ) The
strategic agreement is designed to expand Maytag's existing laundry
product lines and strengthen its market position, both in the
United States and internationally. Maytag plans to continue
manufacturing laundry products in the United States. "Since these
laundry models will all be new for Maytag, this agreement will help
us increase the variety of laundry products Maytag offers to
consumers worldwide, while continuing our tradition of
dependability and innovation," said Ralph F. Hake, chairman and CEO
of Maytag Corporation. "This laundry partnership will combine the
best of Maytag's design, testing, consumer research, marketing and
sales expertise with Samsung's laundry and electronics knowledge
and world-class manufacturing capability." Samsung Electronics Co.,
Ltd. Executive Vice President Moon Yong Lee said, "We're pleased to
cooperate with Maytag, a leader in the United States laundry
appliances market. Our advanced technology, along with Maytag's
product development, engineering and design expertise, will ensure
we maintain the highest standards of quality that customers
expect." These laundry models initially will be marketed
exclusively under the Maytag and Amana brands and will be sold
through normal Maytag distribution channels beginning later this
year in the United States and international markets. The laundry
agreement will serve as a basis for discussions about other
potential business cooperation, Hake said. Maytag Corporation is a
leading producer of home and commercial appliances. Its products
are sold to customers throughout North America and in international
markets. The corporation's principal brands include Maytag(R),
Amana(R), Jenn-Air(R), Jade(R), Hoover(R) and Dixie-Narco(R).
Approximately 90 percent of all manufacturing across the entire
corporation takes place in the United States. In addition,
96percent of Maytag Appliances manufacturing employees are located
in the United States, where the corporation operates 12
manufacturing plants, including four laundry facilities.
Forward-Looking Statements: Certain statements in this news
release, including any discussion of management expectations for
future periods, constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to
differ materially from the future results expressed or implied by
those statements. For a description of such factors, refer to
"Forward-Looking Statements" in the Management's Discussion and
Analysis section of Maytag's Annual Report on Form 10-K for the
year ended December 31, 2003, and each quarter's 10-Q.
http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO
http://photoarchive.ap.org/ DATASOURCE: Maytag Corporation CONTACT:
Lynne Dragomier, Maytag Corporate Communications, +1-641-787-7711,
or James Jung of Samsung Electronics Co., Ltd., +82-2-727-7846 Web
site: http://www.maytagcorp.com/
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