Hoover Maker Aims to Turn Bankrupt Oreck Profitable in 2014
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Techtronic Industries Co., maker of Hoover vacuum cleaners, said it has completed its acquisition of bankrupt rival Oreck Corp. and expects the Nashville, Tennessee-based company to make money next year.
Hong Kong-based Techtronic is hoping to turn the company around by reducing expenses, Chief Executive Officer Joseph Galli Jr. said in an interview in the former British colony today.