The Swedish metal conglomerate Gränges (mines, steel works, aluminum and copper, vehicle safety belts, etc) is acquired for 725 million SEK. The Group’s total turnover is almost 23 billion SEK, an increase of 51% compared to the preceeding year.
Vacuum cleaner capacity is extended still further through the acquisition of the French company Paris-Rhône and the German company Progress. Electrolux launches its first combination oven.
The acquisition of Finnish household appliances company Rosenlew is completed.
After long negotiations Electrolux buys the Italian company Zanussi (founded in 1916) with 20,000 employees, including its subsidiaries in Spain. The acquisition makes Electrolux the unquestioned leader in the European market for household appliances. The Zanussi purchase also makes the Group number one in food service equipment.
The major appliances range of washing machines, tumble driers and air conditioning is extended through the purchase of Zanker in Germany and Duo-Therm in the US.
The third largest major appliances company in the US, White Consolidated Inc., is acquired and includes brands such as Frigidaire, Gibson, Kelvinator and White Westinghouse. White has 18,000 employees. Gösta Bystedt resigns as CEO and is succeeded by Anders Scharp. The Group’s annual sales reaches 53 billion SEK.
The Outdoor Products business area expands following new acquisitions including the US company Poulan/Weed Eater.
Electrolux purchases the major appliances division of the British company Thorn-EMI with brands such as Tricity, Bendix, Stott Benham and Parkinson Cowan. A new kitchen line under the name Frigidaire Euroflair, inspired by European style, is launched on the American market.
The outdoor products business is reinforced through the purchase of American Yard Products – Yardpro. The major appliances business in Spain is strengthened by the purchase of Corbéro and Domar, Spain’s leading companies in this sector. And, the refrigerator compressor producer Unidad Hermética is also acquired.
Electrolux reaches its peak when it comes to the number of employees: 153,000. The leading position of Electrolux in Europe is reinforced by the acquisition of the German Buderus Group’s manufacturing operations of major appliances and food service equipment, including industrial washing machines.
