Proposed plant closures referring to restructuring measures announced earlier today
Proposed plant closures referring to restructuring measures announced earlier today (ELUX) The restructuring measures announced earlier today are focused on improving the Group's cost structure and productivity. The proposed measures involve total personnel cutbacks of approximately 2,800, and will result in a provision in the fourth quarter of 2001 of approximately SEK 1,500m. The proposed measures mainly affect the Group's operations within major appliances, but also imply changes within other product lines such as components and consumer outdoor products in Europe. The proposed plant closures/relocations are listed below: Product area Personnel Plant cutbacks Bøn, Norway Cookers 118 Transfer of production to Sweden and Italy Burg, Germany Hobs 309 Transfer of production to Rothenburg, Germany Kassel, Germany Refrigerators 405 Transfer of production to Sweden and Italy Intron, India Washing machines 76 Transfer of production to Butibori, India Latin America Compressors 229 Electrolux is the world's largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chain saws, lawn mowers, and garden tractors. In 2000, the Group had sales of SEK 124.5 billion and approximately 87,100 employees. Every year, customers in more than 150 countries buy more than 55 million Group products for both consumer and professional use under famous brands such as Electrolux, AEG, Zanussi, Frigidiare, Eureka, Husqvarna and Flymo. Electrolux Press Hotline is available at +46 8 657 65 07. For cancellation of or changes to this fax distribution service, please return this document, with your name, company, and fax number, stating what you want to change, to fax no +46 8 738 74 61. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/12/14/20011214BIT00060/bit0003.doc http://www.waymaker.net/bitonline/2001/12/14/20011214BIT00060/bit0003.pdf