Electrolux to invest $500 million in US business
Electrolux AB (ELUX-B.SK) said Tuesday that it will invest approximately $500 million in its U.S. manufacturing operations as it aims to drive profit growth in North America with new lines of kitchen products.
The investment includes a $250 million modernization and expansion of the manufacturing operation in Springfield, Tennessee, the company said.
The Swedish home-appliance manufacturer previously said it would invest $250 million in its Anderson facility in South Carolina.
The company said that following consolidation into Anderson it will cease production at its St. Cloud, Minnesota facility, taking a restructuring charge of approximately $75 million in the first quarter of 2018.