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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. 

Company Quote

58.95
-0.02 -0.03%
12:59pm EST