The board of the Electrolux group, a multinational producer of electrical appliances, decided last Wednesday to build a new refrigerator factory in eastern Hungary, investing €65 million.
The building of the new factory will begin in January 2004. Production is expected to start a year later in early 2005. The factory will employ 600 people and produce 560,000 refrigerators with built-in freezers annually.
The new capacity will complement Electrolux’s facility in eastern Hungary, where the group already produces four million refrigerators, freezers and vacuum cleaners annually. The refrigerators produced in the new facility will be exported to Western and Eastern Europe, including Russia and Ukraine.
The new investment is part of the group’s strategy to grow production in Eastern Europe, according to the CEO of Electrolux Home Products Europe, the company responsible for the group’s household appliance production and sales in Europe.
“Our experiences with Hungarian production are positive. We are satisfied with the quality of the workforce, and conditions are favorable in terms of expenses, quality and suppliers,” he said. The Electrolux group is the world’s largest producer of kitchen, bathroom, cleaner and outdoor appliances. The new factory will make Hungary its largest base for refrigerator and freezer production in Europe