STOCKHOLM, Sweden, March 18, 2004 (PRIMEZONE) — (ELUX) As part of the ongoing changes within the Indian operation, Electrolux Kelvinator Limited, the Group’s subsidiary in India, is inviting its shareholders to subscribe to new shares totaling approximately INR 2.0 billion (approximately SEK 300m).
AB Electrolux has stated its intention to subscribe proportionally and take up any un-subscribed part of the issue.
AB Electrolux holds 76% of the shares in Electrolux Kelvinator Limited. The company is listed on Indian stock exchanges.
The Electrolux Group is the world’s largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chainsaws, lawn mowers, and garden tractors. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use sold under famous brands such as AEG, Electrolux, Zanussi, Frigidaire, Eureka and Husqvarna. In 2003, Electrolux had sales of SEK 124.1 billion and 77,100 employees.