Indesit Company is an Italian company based in Fabriano, Ancona province. It is one of the leading European manufacturers and distributors of major domestic appliances. It claims to be the undisputed leader in major markets such as Italy, the UK and Russia. Founded in 1975 and listed on the Milan stock exchange since 1987, the Group posted sales of €2.7 billion in 2013. It has eight industrial areas and 16,000 employees.
History
Founded in 1975 as Merloni Elettrodomestici SpA by Vittorio Merloni, as a spin-off from Industrie Merloni. Merloni Elettrodomestici bought Indesit in 1987. It was renamed Indesit Company S.p.A in 2005 after the company it acquired. In the 1980s, with other Italian companies having been taken over by foreign appliance manufacturers, Merloni Household became the premier domestic producer in the industry. From 1981 the company went through a period of crisis, which ended in 1984, when Vittorio Merloni, having concluded his presidency of Confindustria, returned to managing Indesit. Profits and revenues of the company grew, and this led the Merloni family to decide in 1986 in favor of the company's entry into the stock market. In 1987, Merloni Elettrodomestici, already listed on the stock exchange, acquired Indesit, its biggest rival on the Italian market which also had a certain international presence, as well as 33% of Philco Italy. In 1988, Merloni, under the Ariston and Indesit brands, had a turnover of 1.059 billion dollars, becoming the fourth largest European manufacturer of home appliances. The following year, it acquired and absorbed the French company Scholtès. In 1990, Merloni capital entered Marcegaglia, its supplier of steel tubes, which detected 7% of the shares. In the same year the Company had approximately 6,000 employees in various establishments including France, Portugal and Russia. In 1994, Merloni had a turnover of 1,920 billion lire with a market share of 10% in Europe. The following year took over one third of the capital of Star S.p.A., an Italian company of Conegliano Veneto producer of kitchen hoods, which will be fully acquired in 2002 and merged with the Company in 2003. In 1999, through Fineldo, the holding of Merloni family, acquired Panini, manufacturer of collectible stickers. In 2000, Indesit took over the entire capital of Philco and acquired Stinol, the first Russian producer of household appliances. The Company of Fabriano in 2002 entered the consumer electronics industry with the purchase of Sinudyne. In 2005, Indesit Company closes its French industrial site in Thionville. In February 2005, Merloni Elettrodomestici was renamed Indesit Company: Indesit is the best known of the Group's brands outside Italy. At the beginning of 2007, Indesit Company launched the Group's new brand architecture: Hotpoint brand is combined with Ariston to form the Hotpoint-Ariston brand. On 31 July 2009 the Indesit closed its plant at Kinmel Park, Bodelwyddan Denbighshire, Wales, UK. The factory employed 305 workers. The company blamed "continuing decline" in the market. Andrea Merloni from 2010 succeeded his father Vittorio to lead the Company as the new Chairman. On 9 June 2010, the Company announced an investment of 120 million over the 3-year period 2010-2012 to consolidate its presence in Italy and simultaneously the closure of the two plants Brembate and Refrontolo. In May 2011, the company signed sponsorship deals with Arsenal Football Club, of London. In October 2012, Indesit signed a supply agreement with Waterlogic for advanced water purification devices. The agreement was valid until 2015. In 2012 Indesit Company announced its entry into the Small Domestic Appliances market. In 2013, with reference to the year 2012, the maximum A+ application level was reached in the Sustainability Report. In May 2013 Marco Milani was appointed Chairman of the group, maintaining simultaneously the role of CEO. In 2014, Whirlpool Corporation agreed to pay 758 million euros to buy a 60% stake in Indesit, which was a market leader in Italy, the United Kingdom and Russia, from the Merloni family to further expand outside its U.S. home market. In 2017, police investigation pointed to an Indesit made Hotpoint fridge freezer, model FF175BP of 2006-2009, caused the Grenfell Tower fire which became the deadliest blaze in London since World War Two.
The figures
Indesit posted sales of €2.9 billion in 2012. Indesit Company has eight production sites, of which three are in Italy, and five are abroad counting 16 thousand employees.
