(ELUX) The Electrolux Group is selling Electrolux Baking S.A. to Financière de la Motte S.A., France.
Electrolux Baking S.A. in France is part of the business area Professional Indoor. Electrolux Baking S.A. manufactures a wide variety of baking equipment such as dough processors, ovens and display cabinets. In 2000, sales amounted to SEK 315m, and the company has 230 employees. The company’s head office is located in Henin-Beaumont, France. Electrolux Baking S.A. has three plants, located in Henin-Beaumont and Nevers, France, and Tunis, Tunisia. The sale is expected to be completed by the end of October 2001.
The divestment of Electrolux’s French baking operation is part of the Group’s strategy to concentrate on its core businesses. The operation has had financial difficulties and has been unprofitable for some time. The sale will generate a capital loss of approximately SEK 100m for the Electrolux Group.
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, Group sales were SEK 124.5 billion and the Group had 87,000 employees. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use. The Electrolux Group includes famous appliance brands such as AEG, Electrolux, Zanussi, Frigidaire, Eureka, and Husqvarna.
For further information or comments from Detlef Münchow, president Electrolux Professional Indoor, please contact the Electrolux Press Hotline at +46 8 657 65 07.