STOCKHOLM, Jan. 31, 2002 (PRIMEZONE) -- Electrolux (Nasdaq:ELUX) -- The divestment of the remaining part of the leisure-appliances product line (which was announced January 14) to EQT Northern Europe, a Northern European private equity firm, is now finalized.
This part include operations in Germany and Slovakia, which had external sales of approximately SEK 1,300m in 2001 and about 1,400 employees.
The divestment will be effective as of January 31, 2002, and will generate a capital gain of approximately SEK 1,800m before tax for the Electrolux Group.
The leisure-appliances operation, now under the name Dometic, is the world leader in absorption refrigerators for recreational vehicles, hotel rooms and other applications. The major part that was divested in July 2001 reported sales of SEK 4,200m in 2000, and had approximately 2,200 employees. The divestment generated a capital gain of SEK 3, 120m for the Electrolux Group.
Electrolux is the world's largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chain saws, lawn mowers and garden tractors. In 2000, Group sales were SEK 124.5 billion and the Group had 87,000 employees. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use. The Electrolux Group includes famous appliance brands such as AEG, Electrolux, Zanussi, Frigidaire, Flymo and Husqvarna.
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