• USA Today, Friday, December 8, 2006 11:31 AM

Appliance maker Whirlpool plans to sell its Hoover vacuum business to Techtronic Industries, a Hong Kong firm that also controls the Dirt Devil, Regina and Royal floor-care brands. The deal is pegged at $107 million.

Whirlpool, which acquired Hoover in its recent purchase of Maytag, intends to focus on its core appliance business. Whirlpool also markets the KitchenAid and Jenn-Air brands, among others.

Calling Hoover "one of the most recognized brands in the world," Techtronic chairman and CEO Horst J. Pudwill says its addition will strengthen its global market presence by diversifying its customer base, expanding its product offering and adding scale to its operations. Techtronic also sells Milwaukee and AEG power tools.

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