(Greenville, October 30, 2003, 5:00 a.m.) Electrolux says it will save $81 million if it pulls out of Greenville to begin production in Mexico.
This news comes about a week after the refrigerator maker announced that 2,700 of its employees’ jobs are at stake.
Greenville’s mayor says with that in mind, they would still fall tens of millions of dollars short, even with all the tax breaks and incentives in the world.
But he hasn’t given up yet. He’ll hold a brain-storming meeting next Monday.
Pacific Retail Group says the six-month loss for money-gobbling UK subsidiary PowerHouse could be $17 million worse than forecast. The 128-store appliance retailing chain was now expected to lose $36 million to $39 million in the six months to September 30, PRG disclosed yesterday.
STOCKHOLM (Reuters) – The world’s biggest home appliances maker Electrolux reported forecast-beating profits and vigor in key markets on Thursday, but said negative currency effects would drag 2003 profits lower. The Swedish vacuum cleaners to dishwashers and refrigerators maker said there was hi…
Alcatel & Ericsson in battle to takeover Marconi, as Marconi control the pensions and deffered pensions of ex GEC staff including ex Hotpoint engineers, this should be good news as they will be compelled to fill the massive £400 million hole in the current fund.