(ELUX) The Electrolux Group is selling Washex/Challenge, a heavy-duty laundry business, to Lavatec AG, a leading German producer of laundry equipment. The sale is expected to become effective on September 30, 2000.
Washex/Challenge is a part of the business sector Electrolux Professional Indoor products. The company develops, manufactures and markets technologically advanced heavy-duty laundry equipment for the industrial and institutional markets.
In 1999, sales were USD 36 million, and the company has 160 employees. The head office is located in Wichita Falls, Texas.
The divestment includes only the heavy-duty laundry business and will have no effect on Electrolux Wascator, a world leader in professional laundry equipment.
Says Detlef Münchow, President of Electrolux Professional Indoor products: “The divestiture of the Washex/Challenge heavy-duty laundry business is part of our strategy to concentrate on our core business.”
Lavatec AG, based in Heilbronn, Germany, is a leading manufacturer of heavy-duty laundry equipment for the industrial garments market.
For further information contact:
Detlef Münchow, +39-0438-362421