Electronics Production | June 11, 2008
Gorenje acquires ATAG
Slovenia based household appliance maker Gorenje has acquired ATAG Europe, a Dutch producer of home appliances.
The President of the Management Board and CEO of Gorenje, Franjo Bobinac and Philip Sluiter, concluded a contract on the acquisition of a 100% ownership stake in the company ATAG Europe. The acquisition of the Dutch provider of household appliances is the largest acquisition in the history of the company's operations, with Gorenje thereby realising its strategy as a fast growing Pan-European player, reports Invest Slovenia. The Dutch company employs 420 workers. Under the contract, around 1,000,000 Gorenje shares will be transferred to Home Products Europe (around €37m).