Key Developments: Electrolux AB (ELUXb.ST)

ELUXb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

Electrolux AB Scouts For Partner To Enter India's Television And Audio Products Market-The Economic Times
Sunday, 2 Jun 2013 07:34pm EDT 

The Economic Times reported that Swedish household appliance maker Electrolux AB is scouting for a local partner to enter India's television and audio products market through brand licensing, a top Company executive has said.  Full Article

Fitch Ratings Affirms and Withdraws Electrolux AB Ratings-Reuters
Wednesday, 27 Mar 2013 07:04am EDT 

Reuters reported that Fitch Ratings (Fitch) has affirmed Electrolux AB's Long-term Issuer Default Rating (IDR) and senior unsecured notes at 'BBB'. The outlook on the Long-term IDR has been revised to stable from negative. Fitch has simultaneously withdrawn the ratings as they are no longer considered by Fitch to be relevant to the agency's coverage. Accordingly, Fitch will no longer provide ratings or analytical coverage for Electrolux. The revision of the outlook to stable is based on Electrolux's progress over 2012 in improving its financial results, which have been boosted to some degree by the internal restructuring measures the Company has made, but also by improved market conditions in some key growth emerging markets. The expected financial performance of the Company in 2013 and beyond is in Fitch's view better than previously assumed and Fitch believes that the risk of a downgrade has diminished.  Full Article

Electrolux AB Issues Bond Loan
Tuesday, 26 Mar 2013 03:00am EDT 

Electrolux AB announced that it has issued a SEK 1,000 million bond loan under its EMTN (Euro Medium Term Note) program. The bond loan is issued on March 26, 2013, with a maturity on March 26, 2018. A part of the loan, SEK 400 million, is issued at fixed rate and carries a coupon of 2.875% annually. The remaining part, SEK 600 million, has a floating interest rate. The bond will be listed on the Luxembourg Stock Exchange. The proceeds of the offering will be used for general corporate purposes.  Full Article


European recovery on track for Electrolux in second quarter

STOCKHOLM - World number two home appliances maker Electrolux said recovery in Europe remained on track as it posted slightly better than expected second-quarter profit and stuck to forecasts for growth in its home region and the United States.

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