Maytag Corporation was a $4.7 billion home and commercial appliance company, headquartered in Newton, Iowa from 1893-2006. With approximately 18,000 employees worldwide, it made and sold appliances.
The Whirlpool Corp. completed its acquisition of Maytag on April 1, 2006. In May 2006, Whirlpool announced plans to close the former Maytag headquarters office in Newton, as well as laundry manufacturing plants in Newton, Iowa, Herrin, Illinois and Searcy, Arkansas by 2007. following the Maytag closure, all administration will be in Whirlpool's headquarters in Benton Harbor, Michigan. The Maytag name will still be used on rebranded Whirlpool appliances, however most Maytag employees will be terminated, as some were offered jobs in Benton Harbor. The board of directors of Maytag all received five years severance pay.[citation needed] Former chairman and CEO, Ralph F. Hake, received two years of base salary and two years of target bonus under his severance agreement.
In major appliances, Maytag was among the top three companies in the North American market, offering a full line of washing machines, dryers, dishwashers, cooktops, refrigerators, and ranges under the brand names Maytag, Hoover, Jenn-Air, Amana, Dixie-Narco, and Jade.
Maytag sold multiple small appliances including a cordless iron under the Maytag brand, a mixer and blender under the Jenn-Air, as well as the popular Skybox and Rookie home vending products.
In floor care, Maytag owned the Hoover brand, the market leader in North America and the floor care brand with the highest consumer recognition and buying preference.
In commercial products, Maytag owned Dixie-Narco, a leader in refrigerated soft drink and specialty vending machines as well as Jade cooking products and Amana commercial cooking products.
Maytag had presence in markets around the world, including sales operations in Australia, Mexico, Puerto Rico, and the United Kingdom. The corporation's export sales and marketing, licensing of brands, and international joint ventures was coordinated by Maytag International in Schaumburg, Illinois.
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