Electrolux to buy Chinese dishwasher manufacturer

Electrolux announced Thursday it will buy Shanghai Veetsan Commercial Machinery, one of the largest manufacturers of professional dishwashers in China.

The acquisition is aimed at growing the Swedish appliance maker’s professional segment, which includes food service and laundry equipment, and expansion into China and the Asia Pacific region, according to Electrolux.

The deal is expected to close in the first half of 2015.

“Professional dishwashing represents one of the most promising product categories as its penetration rate in China is still considerably lower than other categories, such as cooking or refrigerated storage,” Alberto Zanata, head of Electrolux Professional Products, said in a statement.

Veetsan was established in 2003 and has annual sales of about 115 million Swedish kronor (about $13.9 million.)

Charlotte has been home to the Electrolux North American headquarters since 2010. The company employs 925 people in Charlotte and has said it plans to increase that number to 1,600 by the end of 2017. Company management has credited strength of Electrolux’s North American business to product innovation, such as development of a premium dishwasher that can wash and dry a load of dishes in 30 minutes.

This story was originally published February 5, 2015 at 10:12 AM with the headline "Electrolux to buy Chinese dishwasher manufacturer ."