Maytag Mulling Sale of Commercial Unit

Maytag Corp. said it may sell its commercial cooking products unit and use the proceeds to strengthen its existing businesses, product lines and premium brand strategy.

The Newton, Iowa-based company, whose home appliance brands include Jenn-Air, Magic Chef and Admiral, said it will explore strategic alternatives that include the potential sale of its G.S. Blodgett commercial cooking products manufacturer.

Based in Burlington, Vt., the commercial cooking products unit makes and sells commercial ovens, fryers and charbroilers under such brands as Blodgett and Pitco Frialator.

The possible sale is one more step in Maytag’s renewed focus on more traditional core businesses and the premium brands in those businesses, Chief Executive Leonard Hadley said. About 88% of Maytag’s sales in 2000 came from home appliances.

Maytag shares fell $1.04 to close at $33.50 on the NYSE.