Hisense announces successful acquisition of Slovenian home appliances firm Gorenje

Dubai, United Arab Emirates, April 7, 2018: Hisense® a leading television and appliance manufacturer and UEFA EURO 2020™ partner, has acquired the Slovenian home appliances producer Gorenje for 339 million U.S. dollars, which is viewed as one of the largest acquisitions in the Slovenian history. The acquisition procedure was completed in August 2018. Both companies will work together to enhance product ranges efficiencies thereby bringing to market products that enhance people’s convenience & lifestyle at home.

With this acquisition, Gorenje Gulf FZE, a fully owned subsidiary of Gorenje is now officially merged with Hisense Middle East, a set-up in late 2012 by the Chinese electronics giant in the UAE. Both teams operate and manage from the Hisense Middle East office.

Earlier, The European Commission approved the acquisition of the household manufacturer Gorenje by Hisense Group. The transaction has no competition concerns given the companies’ limited combined market positions.

From a category perspective, Gorenje’s strengths in large cooking appliances and dishwashers will complement Hisense’s strengths in refrigeration, laundry and air conditioners. Gorenje’s premium Swedish brand ASKO will also be a key asset, supporting Hisense’s corporate branding premiumisation plan,” added Mr. Jason, Managing Director, Hisense Middle East.

While Hisense has a strong presence in western Europe, Gorenje is strong in Germany, Scandinavia and central and eastern Europe. By combining its production facilities and orders with Hisense’s, Gorenje could produce not only its own brand name products but also kitchen appliances, refrigerators, washing machines, televisions and air conditioners of Hisense’s brands for the European market,” Mr. Jason, Managing Director, Hisense Middle East

For seven decades, Gorenje has been manufacturing home appliances. It started as the biggest producer in the former Yugoslavia. Gorenje has a strong global workforce of 11,000 people, has three state of the art factories in Slovenia, Serbia, the Czech Republic.

Hisense is one of the world’s biggest makers of TV and household appliances with production facilities around the world, including in Europe.

About Hisense

Founded in 1969, Hisense is one of the largest consumer electronics and home appliances company in the world. Hisense offers a broad range of technology driven products that are manufactured and distributed across the world including smart TVs, smart phones, refrigerators, freezers, and air conditioners, among other products. Hisense has a workforce of over 80000 worldwide and its flat-panel TV market share in China has been No.1 for 14 consecutive years. Currently, Hisense boasts several subsidiaries, with sales revenue reaching CNY 126.6 billion in 2018.

About Gorenje

Founded in 1950 as a small workshop. In the idyllic village, named Gorenje. First solid fuel cooker was produced in 1958. Fast growing start-up moved its base to the young town of Velenjein 1960. Significant role in the area, providing employment mostly to the wives of miners employed in the nearby lignite mine.

A multinational corporation present in homes of our customers in more than 90 countries around the globe. 3 production centers, over 30 business units abroad and over 11.000 employees. Among the leading home appliance manufacturers in Europe -drawing on Slovenian tradition and European values. Committed to designing and perfecting household appliances of the highest standards with beautifully thought out aesthetics and intuitively human technology.

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