Electrolux Halt Egyptian Production

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Electrolux has halted all production in Egypt, where it has around 7,000 employees, due to increasing unrest in the country.

“(Electrolux) chose to discontinue production yesterday afternoon through today,” said Daniel Frykholm, spokesman at the Swedish group.

“In light of the unrest we have been reducing activities on a day to day basis. We evaluate the security situation and then decide whether people should go to work.”

Electrolux has now extended the closure of its Egyptian facilities until security stabilises.

Electrolux suspended production in the country on Wednesday for five days.

The Swedish company said in a statement it would reassess developments continuously. “Operations will be resumed as soon as the security situation stabilises,” it said.

More than 700 people have died in Egypt over four days of violence during which the army-backed government launched a fierce crackdown on his supporters.

Electrolux’s turnover in Egypt was more than 2 billion crowns ($307 million) last year, out of total sales of about 110 billion. It bought Egypt’s biggest appliances maker Olympic Group in 2011.

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