I was right, the once-proud Hoover name is now a ghost of its former self- fromWikipedia...
The company was owned by the Hoover family until the 1940s, when it then became a publicly traded company. The company's stock was first traded on August 6, 1943. In 1985, the company was purchased by Chicago Pacific Corporation, and in 1989, Chicago Pacific was purchased by Maytag.
In 2004, Maytag announced that it would consolidate its corporate office and back office operations in Newton, Iowa and close almost all of Hoover's overlapping functions. This effectively meant that most white-collar jobs at Hoover's North Canton location would be eliminated. The company had previously closed another manufacturing facility in Jackson Township, Stark County, Ohio, and the facility was sold to a church. Like many manufacturing companies in the U.S., Hoover is facing pressures as consumers demand lower-priced goods. Hoover has operations in Mexico, where operating costs are lower than in the U.S.
After Maytag was acquired by Whirlpool in 2006, that firm reached an agreement to sell Hoover to Hong Kong, China-based firm Techtronic Industries.[1] TTI has announced its intention to close the original plant in North Canton in September 2007.
The company was owned by the Hoover family until the 1940s, when it then became a publicly traded company. The company's stock was first traded on August 6, 1943. In 1985, the company was purchased by Chicago Pacific Corporation, and in 1989, Chicago Pacific was purchased by Maytag.
In 2004, Maytag announced that it would consolidate its corporate office and back office operations in Newton, Iowa and close almost all of Hoover's overlapping functions. This effectively meant that most white-collar jobs at Hoover's North Canton location would be eliminated. The company had previously closed another manufacturing facility in Jackson Township, Stark County, Ohio, and the facility was sold to a church. Like many manufacturing companies in the U.S., Hoover is facing pressures as consumers demand lower-priced goods. Hoover has operations in Mexico, where operating costs are lower than in the U.S.
After Maytag was acquired by Whirlpool in 2006, that firm reached an agreement to sell Hoover to Hong Kong, China-based firm Techtronic Industries.[1] TTI has announced its intention to close the original plant in North Canton in September 2007.
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