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Electrolux to invest $500 million in US business

By newadmin / Published on Tuesday, 30 Jan 2018 20:13 PM / No Comments / 8 views

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.

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