Key Developments: Electrolux AB (ELUXY.PK)

ELUXY.PK on OTC Markets Group

56.83USD
21 Nov 2014
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Latest Key Developments (Source: Significant Developments)

General Electric to sell appliances business to Electrolux for $3.3 bln
Monday, 8 Sep 2014 01:30am EDT 

General Electric:Says that it has signed a definitive agreement to sell its Appliances business to Electrolux for $3.3 billion.Says as part of the transaction, GE has entered into a long-term agreement with Electrolux to continue use of the GE Appliances brand.The transaction has been approved by the board of GE and Electrolux.Says transaction remains subject to customary closing conditions and regulatory approvals, and is targeted to close in 2015.  Full Article

Electrolux joins AllSeen Alliance to enable seamlessly connected appliances
Wednesday, 27 Aug 2014 08:00am EDT 

Electrolux AB:Electrolux announces it has joined AllSeen Alliance, broadest Internet of Everything open-source project, as Premier Member.Membership in this collaborative initiative is key enabler for Electrolux to help realize promise of this technology and use connectivity to enhance experience and end result of everyday tasks.With the addition of Electrolux AllSeen Alliance has grown to 63 total members since its creation in Dec. 2013.Alliance represents diverse open source effort to advance Internet of Everything.Says including top consumer electronics manufacturers, appliance makers, service providers, retailers, automotive and enterprise technology companies, innovative startups, developers and chipset manufacturers.Electrolux joins Haier, LG, Microsoft, Panasonic, Qualcomm Connected Experiences, Inc., Sharp, Silicon Image, Technicolor and TP-Link as Premier Members of the Alliance.  Full Article

Electrolux AB in discussions to acquire GE Appliances
Thursday, 14 Aug 2014 11:20am EDT 

Electrolux AB:Confirms that it is in discussions regarding possible acquisition of appliances business of GE.No agreement has been reached, and there can be no assurances that an agreement will be reached.Says any further announcements will be made in due course.  Full Article

Electrolux issues bond loan of SEK 1,000 mln
Wednesday, 28 May 2014 12:00pm EDT 

Electrolux AB:Issues 1,000 million Swedish crown bond loan under its Euro Medium Term Note (EMTN) program.Will use proceeds for general corporate purposes.Maturity date May 28, 2019.One part of the loan, 250 million crowns, is issued at fixed rate and carries a coupon of 2.34 percent annually.The remaining part, 750 million crowns, has a floating interest rate.The bond will be listed on the Luxembourg Stock Exchange.  Full Article

Electrolux AB announces details on FY 2013 dividend
Friday, 21 Feb 2014 02:00am EST 

Electrolux AB:Says its board of directors proposes a dividend for fiscal year 2013 of 6.50 Swedish crowns per share and March 31 as record date for the dividend.Says subject to resolution by the general meeting in accordance with this proposal, dividend is expected to be distributed by Euroclear Sweden AB on April 3.  Full Article

Electrolux AB's board chairman Marcus Wallenberg to step down at AGM
Friday, 21 Feb 2014 02:00am EST 

Electrolux AB:Says Marcus Wallenberg, chairman of the board of directors of Electrolux, has informed the nomination committee that he will not stand for re-election at the company‚Äôs annual general meeting on March 26.Says the reason is to ensure compliance with new EU regulations limiting the number of board assignments.Says Barbara Milian Thoralfsson has also declined re-election to the Board.Says the nomination committee proposes Ronnie Leten as new chairman and Petra Hedengran as new board member.  Full Article

Electrolux AB proposes dividend for 2013
Friday, 31 Jan 2014 02:08am EST 

Electrolux AB:Says the Board proposes a dividend for 2013 of 6.50 Swedish crown per share.  Full Article

Electrolux AB Launches Cost-Cutting Program; Closes Factory for Refrigerators and Freezers in Orange, Australia-DJ
Friday, 25 Oct 2013 03:34am EDT 

Dow Jones reported that Electrolux AB will cut costs to adapt to the European market, which continues to suffer from weak demand. The program will mainly hit the business unit Major Appliances Europe, Middle East and Africa, but also other business areas. The Company is launching an investigation into the competitiveness of its Italian manufacturing business for major appliances, which includes all four plants. Electrolux has also decided to close its factory for refrigerators and freezers in Orange, Australia, and to concentrate production at the major appliances plant in Rayong, Thailand. Approximately 2,000 employees may be affected by the cost cuts, excluding any fallout from the investigation into the Italian manufacturing operations.  Full Article

Electrolux AB Extends Plant Closure in Egypt-Reuters
Sunday, 18 Aug 2013 05:40am EDT 

Reuters reported that Electrolux AB on August 18, 2013 extended the closure of its Egyptian facilities until security stabilizes. Electrolux, which has nearly 7,000 employees in Egypt, suspended production in the Egypt on August 14, 2013 for five days.  Full Article

Electrolux AB Halts Production in Egypt Due to Unrest-Reuters
Thursday, 15 Aug 2013 03:57am EDT 

Reuters reported that Electrolux AB has halted all production in Egypt, where it has around 7,000 employees, due to increasing unrest in the country. The Group will Review the decision on August 17, 2013.  Full Article

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Electrolux sees resurgent U.S. boosting demand in 2015

CHARLOTTE North Carolina/STOCKHOLM - Sweden's Electrolux said on Thursday it expected a resurgent U.S. economy and cheaper raw materials to slightly boost global demand for home appliances next year.

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