BSH mentioned as possible buyer of GE's appliances division

General Electric is considering selling its appliance division and BSH is one of several companies that might reach out to buy it, according to a Thursday story in The Wall Street Journal.

The Journal reported that GE, a household name in appliances since 1907, has hired Goldman Sachs Group Inc. to run an auction for its appliance unit. It said the sale is being considered as a remedy to sagging profits in GE's now diversified business collection and said the division could sell for between $5 billion and $8 billion.

Possible buyers named included BSH Bosh & Siemens Hausgeräte GmbH of Germany, whose BSH North American company owns BSH Home Appliances in New Bern. Others noted as possibly interested were Haier Group of China, private equity firms, and GE's Mexican partner, Controladora Mabe SA.

BSH, the world's third-largest appliance manufacturer, has focused on high-end appliances. But in its 40th year, it is expanding its mid-range appliance lines. In April, the company launched a new dishwasher line at its New Bern plant pointed to that broader market. 

BSH manufactures appliances in 44 factories at 31 locations in 15 countries and employs about 39,000 people.

At a May 7 press conference in Munich, Germany, BSH CEO Kurt-Ludwig Gutberlet said that "fiscal 2007 was an excellent year for BSH. We expanded against the prevailing market trend. We outperformed our competitors and gained important market share in virtually all countries in which we do business."