Consumer electronics giant Panasonic Corporation has acquired a minority share in Gorenje

Consumer electronics giant Panasonic Corporation has acquired a minority share in Slovenian domestic appliance manufacturer Gorenje for €10million.

It will see both companies work jointly in research and development of household appliances and share manufacturing facilities for washing machines, refrigerators and built-in ovens.

The deal will also mean Panasonic and Gorenje will share the sales network and marketing knowledge for distribution throughout Europe. Initially, the emphasis of the arrangement will be on the joint development of washing machines to be distributed in the EU market, the production of Panasonic-branded refrigerators to be distributed in the EU and Russia. It will also see the joint distribution potential of Panasonic brand built-in kitchen appliances in Europe and production of built-in ovens by Gorenje.

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Gorenje president and CEO, Franjo Bobinac said: “Forging a strategic alliance with a corporation of such reputation as Panasonic is a historical milestone for Gorenje and an important step in the pursuit of our strategic policies.”

Chairman and CEO of Panasonic Europe, Laurent Abadie commented: “Gorenje’s commitment ot developing innovative, design-led and high quality products make it the ideal partner for Panasonic. We are looking forward to working together to build a solid and long-term platform for growth that will propel both organisations to new strengths within the European home appliance market.

“By combing our complementary product and manufacturing technologies, sales channels and marketing expertise, we look forward to bringing advanced, smart and ecologically responsible appliances to consumers across Europe, including Russia, in the coming years.”