Indesit Company

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 (washing machines, dryers, dishwashers, fridges, freezers, cookers, hoods, ovens and hobs). 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 ą2.7 billion in 2013. It has eight industrial areas (in Italy, Poland, the UK, Russia and Turkey) and 16,000 employees. The Groupís main brands are Indesit, Hotpoint and Scholtes.
In 1987, Merloni Elettrodomestici, already listed on the stock exchange, acquired Indesit (founded in Torino as Industria Elettrodomestici Spirea Italia SpA, a subsidiary of Spirea srl, by Armando Campioni, Adelchi Candellero and Filippo Gatta in 1953), 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 Scholtes.
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.
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 (Bergamo) and Refrontolo (Treviso).
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 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 a Indesit made Hotpoint fridge freezer, model FF175BP of 2006-2009 (discontinued since then), caused the Grenfell Tower fire which became the deadliest blaze in London since World War Two.