The buzz on Amana. (Raytheon Co. may sell Raytheon Appliance Group, Amana Home Appliances)
HFN: The Weekly Newspaper for the Home Furnishing Network, March, 1997 by Beatty, Gerry
Raytheon Co. will probably sell Raytheon Appliance Group. The company has retained Credit Suisse First Boston to assist in evaluating the home appliances business. Raytheon plans to sell the company in order to concentrate on its defense-electronics business. The Raytheon Appliance Group's flagship division, Amana Home Appliances, has cut prices on several appliances to maintain volume. Approximately $1.5 billion worth of electronics appliances are made by the Raytheon Appliance Group.
AMANA, Iowa -- There is no timetable or set procedure for the sale of the Raytheon Appliance Group. There isn't even a guarantee that Raytheon Co. will divest the business. But that hasn't prevented some of the white-goods industry's most intense speculation in years about potential buyers....
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