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    ELUX B   SE0000103814

ELECTROLUX AB

(ELUX B)
Delayed Nasdaq Stockholm  -  11:19:06 2021-10-05 am EDT
185.60 SEK   +1.42%
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Electrolux to divest Memphis factory

10/12/2022 | 12:01pm EST

Electrolux has agreed to divest its manufacturing facility in Memphis, Tennessee, USA, including certain equipment, for a cash consideration of USD 82.5m (approx. SEK 930m).

Completion of the transaction is contingent on various factors. The agreed purchase price is USD 82.5m (approx. SEK 930m). The approximate gain of USD 65.8m (approx. SEK 740m) will be recorded as a non-recurring item, positively impacting the operating income in business area North America, in connection with closing of the transaction. Closing and the positive cash flow impact are expected to occur during the fourth quarter of 2022.

The final operating income and cash flow effects will be determined by the exchange rate on the transaction day.

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 12-10-2022 18:00 CET.

For more information contact:

Sophie Arnius, Investor Relations, +46 70 590 80 72

Paul Palmstedt, Corp. 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/electrolux-to-divest-memphis-factory,c3647387

https://mb.cision.com/Main/1853/3647387/1637900.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Managers and Directors
Jonas Samuelson President, Chief Executive Officer & Director
Therese Friberg Chief Financial Officer
Staffan Bohman Chairman
J. P. Iversen Chief Information Officer
Carsten Franke Chief Operations Officer & Executive VP
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