Electrolux will host its annual Capital Markets Day in Charlotte, North Carolina on November 20, 2014. The seminar will be hosted by Keith McLoughlin, President and CEO, and Tomas Eliasson, CFO, together with parts...Read more
Electrolux to consolidate cooking manufacturing in North America
Electrolux is planning to consolidate its North American cooking manufacturing by building a new manufacturing facility in Memphis, Tennessee, USA. In consolidating cooking production to Tennessee, where Electrolux currently operates a factory in Springfield, Electrolux will gain advantages of scale by leveraging resources such as R&D, talent, labs and supply base.
After having investigated a large number of potential locations in the United States and Mexico, Electrolux has taken the decision to build a new factory in Memphis, Tennessee. This site offers an optimal geographical location towards customers and suppliers. Together with the existing cooker factory in Springfield, the factory in Memphis will establish Tennessee as a cooking production center for Electrolux in North America, enabling Electrolux to realize synergies in manufacturing.
Production in Memphis is expected to start in mid-2012, and the factory is expected to be fully operational in 2013. On December 15 08:00 CET, Electrolux announced that its factory in l’Assomption, Quebec, Canada, is expected to close in the fourth quarter of 2013.
The new manufacturing site, which represents an investment of USD 190M, will receive investment support from state, county and city governing bodies, which is pending their final approval.
The Electrolux restructuring program initiated in 2004 is expected to be completed in 2011. The total cost of the program will be approximately SEK 8.5 billion, and the program is expected to generate annual cost savings of SEK 3.4 billion with full effect by 2013.
For further information
Contact Electrolux Press Hotline, +46 8 657 65 07.
Read more within Press releases
The Electrolux Annual Report for 2013 is available on the Group’s website as of today.Read more
The shareholders of AB Electrolux are invited to participate in the Annual General Meeting to be held on Wednesday, March 26, 2014 at 5 p.m. at the Stockholm Waterfront Congress Centre, Nils Ericsons Plan...Read more