Skip to content
Business
Checkout

Whirlpool Touts Bet on Troubled Argentina as Others Steer Clear

  • Company bets on front-load washing machines in the region
  • Plant will supply South American market in near-shoring push
Bloomberg business news

Whirlpool CEO says third quarter earnings don't tell whole story.

Whirlpool Corp. is betting on demand for front-load washing machines in Latin America with a new state-of-the-art plant in Argentina, even as other foreign companies shy away from the turbulent country.  

Built in the outskirts of Buenos Aires, the factory required a $52 million investment and will export 70% of its output, said its president for Latin America, Joao Carlos Brega. Previously, front-load washing machines had to be imported into the region.