Samsung secures first European base

Samsung Electronics Co. has taken over manufacturing facilities of Amica S.A., a Polish household appliance maker, for $76 million, securing its first production base in Europe.

The Korean company will have control of Amica’s Poznan factory, 320 kilometers (199 miles) west of the Polish capital of Warsaw; its assembly lines for refrigerators and washing machines; and its work force, it said in a statement late on Tuesday.

The takeover does not include the brand of Amica, a company with a history of 65 years.

“Most of Samsung Electronics’ home appliances sales in Europe have been represented by shipments from its Chinese and Southeast Asian production subsidiaries,” the company said in the statement.

“Now, with a production base in Europe, the company is able to reduce logistics costs as well as the time it takes to get our stock to Europe by more than four weeks, boosting our price competitiveness.”

Samsung Electronics added that the Polish production base will focus on producing two-door refrigerators and drum washing machines.

The electronics giant operates production bases for home appliances in six countries including Thailand, India and Mexico.

“We will generate a synergy effect with Poland’s excellent work force and Samsung’s technology,” said Shin Sang-heung, chief executive officer of Samsung Electronics Europe, in the statement.

Shin and Amica’s chief executive officer Jacek Rutkowski signed the contract on Tuesday.

Meanwhile, Rutkowski told reporters in Warsaw that there were no plans for Samsung Electronics to buy a stake in the remainder of Amica, which is listed on the Warsaw Stock Exchange, according to AFP.

By Moon So-young [symoon@joongang.co.kr]