Panasonic agreement good for Gorenje – Slovenian company becoming Japanese brand's development center in Europe

The president of the Management of Gorenje, Franjo Bobinac, says that he believes that the agreement with Panasonic will have positive effects on Gorenje and on the entire region and claims that the Gorenje brand is not endangered.

Bobinac didn't reveal the details of the agreement in his interview for Ljubljana's Dnevnik, as they are confidential, but he did say that the agreement was favorable for Gorenje, which could become a platform for the development of the Panasonic brand of major appliances in Europe. According to Bobinac, this won't endanger the Gorenje brands. He is convinced that they will be kept for their tradition and reputation.

Bobinac didn't answer the question about the impact of the cooperation with Panasonic on the jobs. He only said that the agreement had been signed in order to step up the growth of both companies, which meant more jobs.

When asked if there might be a fight to take over Gorenje due to the major purchase of their shares following the announcement of Panasonic's acquisition offer, Bobinac said that hostile takeovers were rare in the home appliances industry.

He believes that the decision of the Management to delay the information of Panasonic's due diligence of Gorenje didn't mean that they treated investors unequally, as Gorenje had been cooperating with Panasonic, the owner of 11% of the company, for three years. Through this cooperation, the companies are developing products and increasing the scope of their operations.

Gorenje d.d. Velenje

Panasonic Corporation

Franjo Bobinac

Gorenje Panasonic cooperation

home appliances industry