The appliance maker Electrolux, rumored as a takeover target for months now, is considering making its own acquisitions as the industry consolidates, its chief executive, Hans Straaberg, said on Monday.
“We have clear evidence that Electrolux has been the predator and not the prey, and we intend to stay the predator,” Straaberg, a hunter who has a moose head trophy in his Stockholm office, said during an interview on Monday.
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Electrolux said it will close its low-end refrigerator manufacturing facilities in Changsha in central China’s Hunan province. The move is in-line with the company’s repositioning as a vendor of high-end products, said Gunilla Nordstrom, the company’s newly appointed China president.
LESS than three weeks after Electrolux announced it was cutting 200 jobs from its Orange fridge factory, it now appears up to 80 more jobs could be cut from the plant.
Electrolux has said that it wants to cut costs to help maintain profitability in Europe as the market cools off and slows.