After another quarter of losses, Stockholm is preparing to sell plants in Hungary and Memphis, all brands except its own, AEG and Frigidaire, plants in Egypt and South Africa. Objective: to earn 0.9 billion euros The Electrolux Group has commissioned Societè Gènèrale to seek buyers for all its ‘minor’ brands: Zanussi, Zoppas,  Ideal, Faure, Zanker, Rosenlew, Elektro-Helios, Olympic Electric and Kwikot, as well as the plants in Egypt and South Africa. Activities that in 2022 generated 7 billion crowns, 610 million euros, i.e. 5% of the group’s total turnover. The Hungarian plant in Nyíregyháza and the US one in Memphis are also up for auction.
Electrolux hopes to raise 10 billion crowns in this way, less than 900 million euros (and just over a year’s turnover of the brands and factories in question).