STOCKHOLM (dpa-AFX) - Electrolux AB (ELUXY.PK, 0GQ1.L, 0MDT.L, ELUXb.ST), a Swedish home appliance company, said on Wednesday that it has decided to end production at Jaszbereny, Hungary, which makes built-in and freestanding refrigeration products.
As a result, for the second quarter, the company will report a restructuring charge of around SEK 0.6 billion, of which SEK 0.3 billion is cash-related. The planned plant closure will impact around 600 staff.
The production at the site is expected to cease by the end of 2026.
'The decision follows a review of the company's strategy to strengthen cost competitiveness and increase agility through production footprint optimization. This is driven by the current competitive environment, which is impacted by stagnant market demand, price pressure, and increasing constraints on cost competitiveness,' the company said.
Electrolux will fully meet demand for refrigeration products by leveraging existing operations?as well as working with external OEM partners.
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