Hoover Gets Sucked Up

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Whirlpool Corp. on Thursday agreed to sell its recently acquired Hoover floor-care operation for $107 million to Hong Kong-based Techtronics Industries Co.

Sale of the floor-care business "allows us to focus on our core appliance business," said Whirlpool Chairman and Chief Executive Jeff Fettig.

Whirlpool announced several months ago that it intended to sell the Hoover operation, which has had difficulty competing with a surge of low-cost imports, in part because the vacuummaker is saddled with relatively high labor costs.

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