Wed, Apr. 8, 11:00 AM
- Shares of Whirlpool (NYSE:WHR) are down 1.8% after rival Electrolux (OTC:ELUXF, OTCPK:ELUXY) warns on results in North America.
- The Swedish appliance seller expects to post a loss in Q1 due in part to costs tied to energy regulations.
- "Electrolux operations continue to be negatively impacted by the transition of the product ranges within refrigeration and freezers," reads the company's statement.
- Electrolux will release full Q1 results on April 24.
- Shares of Electrolux ADRs have fallen 7.7%.
- Electrolux update on North American operations
Thu, Feb. 26, 9:30 AM
Sep. 8, 2014, 2:21 AM
- General Electric (NYSE:GE) has signed a definitive agreement to sell its appliance business to Electrox (OTC:ELUXF, OTCPK:ELUXY) for $3.3B.
- "GE's premium, high-quality appliances complement our own iconic brands and will enhance our presence in North America" says Electrolux CEO Keith McLoughlin.
- Electrolux will continue use of the GE Appliances brand following the close of the transaction (targeted for 2015).
Sep. 4, 2014, 11:33 AM
- Electrolux (OTC:ELUXF, OTCPK:ELUXY) is near a deal to buy General Electric's (GE +0.2%) appliance business for more than $2.5B, with an agreement set to be announced as early as next week, according to a Reuters report.
- GE's iconic household appliance business, which along with lighting generated $8.3B in 2013 revenue, could help the Swedish appliance manufacturer expand beyond its core European market where growth has trailed North America.
Aug. 18, 2014, 6:36 PM
- Around the time GE was closing a deal to buy Alstom's power business in France, the company was already discussing the possibility of selling its U.S. appliance business to Electrolux (OTC:ELUXF, OTCPK:ELUXY), and WSJ says the length of the courtship indicates the talks may be further along than thought.
- GE's Appliance and Lighting unit reported $381M in profit in 2013 on sales of $8.3B, making it the third-smallest of GE's seven industrial business lines by revenue, but that also makes it a prime target for sale as GE tries to pare low-margin businesses and focus its efforts on such heavy industrial products as jet engines, power turbines and oil industry equipment.
- LG Electronics and Samsung also are said to be in the mix of possible buyers, and Quirky Inc. reportedly has teamed up with Blackstone to work on a possible bid.
Aug. 14, 2014, 2:53 AM
- General Electric (NYSE:GE) is in talks with Sweden's Electrolux (OTCPK:ELUXY) and Quirky, a consumer-product development startup, over the sale of its century-old appliances business that could fetch $2B.
- Quirky would partner with private-equity firms to acquire a majority stake, leaving GE with a minority holding.
- GE has been trying to sell its home appliances unit again as CEO Jeffrey Immelt puts a greater focus on industrial operations.
Apr. 25, 2012, 10:02 AM
ELUXY vs. ETF Alternatives
Electrolux is a global leader in household appliances and appliances for professional use, selling more than 40 million products to customers in more than 150 markets every year.<br /><br />The company focuses on innovations that are thoughtfully designed, based on extensive consumer insight, to... More
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