Daewoo Electronics
Encyclopedia
Daewoo Electronics is a home electronics company. Established in 1971, it has since grown into a global business with more than 64 production sites, R&D and sales centres in more than 40 countries worldwide. Daewoo Electronics Sales UK (DESUK) was established in November 1993. It is the third largest electronics firm of South Korea after Samsung
and LG
. The company manufactures a range of high value electronics and home appliances. The company went through a bankruptcy in 1999 after Asian financial crisis and is currently owned completely by a group of creditors. Beside its business of manufacturing consumer goods, it has been contracted by different parties to set up local manufacturing units producing air-conditioners, refrigerators and washing machines. In October 2010, it was announced that the creditor group owning the company is to sell it to an Iran-based electronic company. Entekhab Industrial Group of Iran would buy the firm for 529 million dollars in November 2010 from its creditors.
Entekhab industrial Group competed with Electrolux
of Sweden for the acquisition. In June 2011, it was reported that creditors of Daewoo decided to drop the deal with Entekhab group over funding uncertainties; Entekhab Group threatened to take legal actions in response.
Samsung
The Samsung Group is a South Korean multinational conglomerate corporation headquartered in Samsung Town, Seoul, South Korea...
and LG
LG
LG may refer to:*LG Corp., a South Korean electronics and petrochemicals conglomerate*LG Electronics, an affiliate of the South Korean LG Group which produces electronic products* Lawrence Graham, a London headquartered firm of business lawyers...
. The company manufactures a range of high value electronics and home appliances. The company went through a bankruptcy in 1999 after Asian financial crisis and is currently owned completely by a group of creditors. Beside its business of manufacturing consumer goods, it has been contracted by different parties to set up local manufacturing units producing air-conditioners, refrigerators and washing machines. In October 2010, it was announced that the creditor group owning the company is to sell it to an Iran-based electronic company. Entekhab Industrial Group of Iran would buy the firm for 529 million dollars in November 2010 from its creditors.
Entekhab industrial Group competed with Electrolux
Electrolux
The Electrolux Group is a Swedish appliance maker.As of 2010 the 2nd largest home appliance manufacturer in the world after Whirlpool, its products sell under a variety of brand names including its own and are primarily major appliances and vacuum cleaners...
of Sweden for the acquisition. In June 2011, it was reported that creditors of Daewoo decided to drop the deal with Entekhab group over funding uncertainties; Entekhab Group threatened to take legal actions in response.