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Investing.com -- Whirlpool SA, the Brazilian unit of Whirlpool Corp, announced Wednesday it will stop production at its manufacturing facility in Pilar, Argentina.
The company, which owns home appliance brands Brastemp and Consul, stated the decision aligns with its "strategic guidelines of operational efficiency and responsible source allocation."
Despite ending manufacturing operations in Argentina, Whirlpool SA clarified in a securities filing that import, commercialization and distribution activities in the country will continue unaffected.
This move comes after Whirlpool announced a 550 million-real ($102.31 million) investment last year to expand and modernize its plants in Rio Claro and Joinville, Brazil.
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