According to Egyptian media Midea Group is considering the acquisition of Zanussi brand from Electrolux Group . The acquisition deal is expected to be finalized by the fourth quarter of 2023.
In July, the Swedish giant had appointed Societè Generale to handle the sale of the Zanussi, Ideal, Faure, Zanker, Rosenlew, Elektro-Helios, Zoppas, Olympic Electric and Kwikot brands and activities in Africa and the Middle East.
Electrolux’s activities in Egypt became relevant in 2011 with the acquisition of Egyptian Olympic Group, the largest white goods manufacturer based in the Middle East. Electrolux employs 2,238 people in Egypt.
Tag Archives: ZANUSSI
Electrolux Group focuses on its own brand and AEG, to sell Zanussi brand
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).
Electrolux’s partnership with BIMobject gives architects and designers the ability to transfer digital Electrolux, AEG and Zanussi models
https://www.bimobject.com/en/product?brand=electrolux
Electrolux’s partnership with BIMobject gives architects and designers the ability to transfer digital Electrolux, AEG and Zanussi models, such as ovens, hobs, dishwashers and refrigerators, directly into their projects.
With the most comprehensive range of appliances on the platform, designers can find all the products they need, complete with installation drawings, full product specifications and 3D models, helping them plan their whole project in the most accurate and efficient manne
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