Ariston Thermo Group

In January 2017 it was reported, “some old Iranian home appliance companies, including Arj and Azmayesh, have not been revamped and modernized during the past decades, Abbas Hashemi an official in the Iranian Ministry of Industry told IRNA on Saturday, accordingly the Ministry of Industry has decided to hold talks with some foreign companies namely the American multinational conglomerate corporation General Electric (GE), the American multinational manufacturer and marketer of home appliances Whirlpool Corporation, and the Italian Ariston Thermo Group in a bid to revive and update the named Iranian companies.”

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"Iran says it has started talks with major American and Italian companies to form partnerships with some of its oldest brands of household devices in what appears to be a policy to prevent their demise. The announcement was made by Abbas Hashemi, the director general for household devices affairs of the Ministry of Industry, Mine, and Trade. Hashemi was quoted by the domestic media as saying that the companies with which talks to were underway on the same front were multinational conglomerate corporation General Electric (GE), the American multinational manufacturer and marketer of home appliances Whirlpool Corporation, and the Italian Ariston Thermo Group." (Press TV, "US, Italian Firms to Save Iran's Troubled Brands," 1/8/2016).