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Greenville, Michigan,--January 17, 2004-- (ELUX) Electrolux will discontinue production of refrigerators at its factory in Greenville, Michigan, in the United States. The factory will continue to operate into 2005. In October 2003 Electrolux announced that the factory was under evaluation.
Careful and in-depth evaluation of proposals from the local community,
the state of Michigan and the company's labor unions has been conducted. The Greenville factory has approximately 2,700 employees. The closure
of the factory will incur a total cost of approximately SEK 1,200m, the
majority of which will be taken as a charge against operating income for
the first quarter of 2004. Approximately half of the cost refers to write-down
of assets. The Electrolux Group is the world's largest producer of powered appliances
for kitchen, cleaning and outdoor use, such as refrigerators, washing
machines, cookers, vacuum cleaners, chainsaws, lawn mowers, and garden
tractors. Every year, customers in more than 150 countries buy more than
55 million Electrolux Group products for both consumer and professional
use sold under famous brands such as AEG, Electrolux, Zanussi, Frigidaire,
Eureka and Husqvarna. In 2002, Electrolux had sales of SEK 133.2 billion
and 82,000 employees.
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Source: Electrolux
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