It cost US$52 million and was the “most modern of its kind, worldwide, with cutting-edge sustainable technology,” according to the official announcement. In October 2022, Whirlpool, a multinational home appliance manufacturer, opened a new washing machine factory in Pilar, Argentina. Last week, just over three years later — and two years into libertarian economist Javier Milei’s presidency — the company shut it down and fired its 220 workers.

Weeks before, Paolo Rocca, one of the country’s industrial leaders and provider of the Whirlpool factory, had warned about the situation without naming the company. At an industry event, he said that washing machine imports had risen from 5,000 to 87,000 per month and refrigerator imports from 10,000 to 80,000. 

“This leads many to choose between continuing to produce or closing down and using the commercial chain to distribute imported goods,” he said.

Whirlpool’s closure is far from an anomaly. Amid a drop in consumption, import liberalization, and an exchange rate lag, Argentina’s manufacturing industry is facing a crisis that some are calling the worst in its history.

In 2024, the first year of Milei’s presidency, the industry fell by a whopping 9.2%, according to the INDEC, the government’s statistics agency. 2025 fared no better, with the manufacturing industry steadily declining year-on-year since July. 

Since Milei took office, 47,000 jobs in manufacturing have been lost.

Large players........

© Buenos Aires Herald