Electrolux Group has signed an agreement for divestment of FHP Elmotor in Ankarsrum, Sweden to Traction AB.
AB Traction is a Swedish investment company listed on the OM Stockholm stock exchange. Operations are focused on developing and refining companies, which are wholly or partially acquired.
FHP Elmotor is part of product line Components in business area Professional Indoor.
Based in Ankarsrum the company produces electric motors for lawnmowers, special industrial applications and small kitchen appliances. The company has 265 employees and a sale of SEK 265m.
The sale is expected to be completed by November 30 2001.
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 please contact Per Holmberg, General Manager, at +39 335 832 5384 or Peter Stillström, Managing Director AB Traction +46 707 475 661. The Electrolux Press Hotline is available at +46 8 657 65 07.