The Business Times

Electrolux

Companies & Markets

Electrolux Q1 loss nearly triples on weak demand but beats expectations

The Swedish group is struggling to compete with lower-price rivals such as China’s Midea as cash-strapped households turn to cheaper alternatives

Closing of the deal is expected in the first quarter of 2024, Electrolux Professional says.
Companies & Markets

Sweden's Electrolux Professional to buy Japan's Tosei

SWEDEN’S Electrolux Professional on Friday said it had agreed to buy Japan’s Tosei Corporation, a maker of professional laundry equipment and vacuum packing machines, for about 1.65 billion Swedish cr...

The company reported a near eight per cent drop in sales to 33.4 billion kronor (S$4.09 billion) in the third quarter compared with the same period the previous year.
Companies & Markets

Electrolux to cut 3,000 jobs as sales fall

Swedish home appliances maker Electrolux said on Friday (Oct 27) it plans to cut some 3,000 jobs as it reported lower sales in the third quarter.

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