Electrolux Decides to Close Factory in Nuremberg, Germany.STOCKHOLM, Sweden -- After a six-month long investigation, Electrolux today decided to initiate closure of the appliances factory in Nuremberg, Germany. Production will gradually be moved to Italy and Poland. Closure of the factory is expected to be completed by the end of 2007. "This was one of the most difficult decisions I ever experienced during my time at Electrolux. I am aware that this decision will affect, in a very negative way, many individuals, their families and relatives. However we finally had to conclude that there is no way to bridge the large cost gap that would make production in Nuremberg competitive", says Johan Bygge, head of Electrolux Major Appliances A major appliance is usually defined as a large machine which accomplishes some routine housekeeping task, which includes purposes such as cooking, food preservation, or cleaning, whether in a household, institutional, commercial or industrial setting. Europe and Asia Pacific. The factory in Nuremberg has approx. 1,750 employees. The closure of the factory will incur a total cost of approximately SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.3 billion, which will be taken as a charge against operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. in the fourth quarter of 2005. Electrolux also decided to initiate an investigation about a potential closure of the compact appliances factory in Torsvik, Sweden, which has 190 employees. The restructuring cost for a potential factory closure will be communicated when the investigation is completed. The Electrolux Group is the world's largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines (storage) washing machine - An old-style 14-inch hard disk in a floor-standing cabinet. So called because of the size of the cabinet and the "top-loading" access to the media packs - and, of course, they were always set on "spin cycle". , cookers, vacuum cleaners vacuum cleaner, mechanical device using a draft of air to remove dust, loose dirt, or other particulate matter from dry surfaces. It is especially useful on highly textured surfaces, such as carpets and upholstery, that are difficult to clean by wiping or brushing. , 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 AEG Aeger (Latin: Sick) AEG Allgemeine Elektrizitäts-Gesellschaft (Common Electricity Company) AEG Aircraft Evaluation Group AEG Association of Engineering Geologists AEG Air Expeditionary Group , Electrolux, Zanussi, Frigidaire, Eureka and Husqvarna. In 2004, Electrolux had sales of SEK 121 billion and 72,000 employees. This information was brought to you by Waymaker http://www.waymaker.net. |
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