Hoover has a range of products for general and special-purpose vacuuming including upright, canisters, deep cleaners and hard-floor cleaners. Techtronic will acquire operational control of the business including manufacturing in Ohio, Texas and Mexico.
The companies have not disclosed details of the liabilities that Techtronic will assume but analysts reckon they are long tenure, mostly pension-related liabilities and will equal around $70 million. As per the terms of the deal, Whirlpool will retain the...
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