STOCKHOLM, Sweden, April 18, 2002 (PRIMEZONE) -- Electrolux (Nasdaq:ELUX) has signed an agreement for divestment of its Mexican compressor plant, Kelvinator de Mexico, to a group of Mexican financial investors, including the present company manager.
Kelvinator de Mexico is part of the Components product line in the Professional Indoor Products business area. In 2001, sales amounted to SEK 182m, and the plant has 243 employees.
The sale is expected to be completed in the second quarter, 2002, and will generate a capital loss of SEK 3m.
In the restructuring program presented in December 2001, the proposal was to close this plant.
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 2001, Group sales were SEK 135.8 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, Eureka, and Husqvarna.
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