Electrolux signs agreement to divest its compressor operation

(ELUX) Electrolux has signed an agreement for divestment of its
compressor operation, to SOLE SpA, a company controlled by Dresdner
Kleinwort Capital.

The compressor operation is part of business area Professional Indoor
Products and is the world leader in compressors for domestic and
commercial appliances. The operation comprises three plants in Italy, Spain and Austria, as well as two joint ventures in China. External
sales in 2002 amounted to SEK 2,800m, and the number of employees was
The sale is expected to be completed during September, 2003 and will not
have any significant impact on the Group’s income and financial

Says Detlef Münchow, President of Electrolux Professional Indoor
Products: “After streamlining the compressor operation, we now divest
this business to a partner that will take it into the future. This means
that the number of product lines within the Professional Indoor business
area has been reduced to two – Food Service Equipment and Laundry
Systems – which gives us the opportunity to focus our work on their


Further information
The Electrolux Press Hotline is available at +46 8 657 65 07.

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.