Gorenje and Panasonic team up

The strategic alliance between Gorenje and Panasonic will be structured around two pillars: joint R&D and sharing of selected manufacturing platforms for selected product categories (washing machines, refrigerators and built-in ovens); and the sales network and marketing know-how for distribution throughout Europe. In addition to these primary pillars, the alliance will also create a flexible foundation that will allow both companies to pursue other areas of cooperation. As a sign of confidence in the success of the alliance and a commitment to the long-term business relationship, Panasonic will invest 10 million euros and acquire a minority interest in Gorenje; and to allow existing and new shareholders to benefit from the alliance, Gorenje will execute an equity increase and dual listing.