Yang Rui adjustment Shanghai reported
an partnership to an end. Currently, BSH is the world’s top three white-goods giant.
August 24, Little Swan announced that it signed with BSH on August 23, to sell its stake in BSH. Established in 1994, BSW has a registered capital of $29,275,000, with Bossi and Little Swan holding 60% and 40% shares respectively.
As Bossi's first joint venture in China, BSW experienced six years of losses. But after 2000, its performance improved significantly. It is understood that in 2008 and 2009, their earnings were over $100 million, making Little Swan the main source of profit.
So, why is Little Swan exiting BSW? The announcement from Little Swan shows that from January to July, BSW had a net loss of 1.5165 million yuan.
However, a white appliances business sales administrator stated that BSW's performance decline was due to the U.S. company withdrawing as stakeholders. After the U.S. company entered in 2008, Microsoft pointed out that Little Swan Washing Machine began to fully enter the market, directly competing with BSW. Then the reporter said:
And Bossi, president of China, told reporters that Geilke is present, indicating that the business of BSW is really difficult, and the loss is still not decisive. > Little Swan A mid-term net profit reached 280 million yuan, up 12.7%. Little Swan Washing Machine is brewing a technology shuffle, expanding territory in the industry, winning energy-efficiency labeling checks. Failed: Little Swan wronged Aucma default.