The divestment of the Electrolux manufacturing facility in Memphis, Tennessee, USA, will not be completed as expected since the buyer requested to move closing of the transaction to the first half-year 2023.
As communicated on October 12, 2022, Electrolux had agreed to divest the Memphis facility for a cash consideration of USD 82.5m (approx. SEK 930m), which was expected to be completed during the fourth quarter 2022. Completion of the transaction is still contingent on various factors.
Electrolux production in Memphis stopped on June 30, 2022, and the operations have been transferred to the new facility in Springfield, Tennessee.
This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 19-12-2022 21:00 CET.
For further information, please contact:
Sophie Arnius, Investor Relations, +46 70 590 80 72
Paul Palmstedt, Corporate Communications, +46 70 593 92 83
Electrolux is a leading global appliance company that has shaped living for the better for more than 100 years. We reinvent lifetime taste, care and wellbeing experiences for millions of people, always striving to be at the forefront of sustainability in society through our solutions and operations. Under our brands, including Electrolux, AEG and Frigidaire, we sell approximately 60 million household products in approximately 120 markets every year. In 2021 Electrolux had sales of SEK 126 billion and employed 52,000 people around the world. For more information go to www.electroluxgroup.com
https://news.cision.com/electrolux/r/divestment-of-memphis-factory-postponed,c3687302
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