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Electrolux To Sell Memphis Factory For $82.5 Mln In Cash

Electrolux AB (0MDT.L,0GQ1.L,ELUXY.PK), a Swedish home appliance maker, announced its agreement to divest its manufacturing facility in Memphis, Tennessee, USA, including certain equipment, for $82.5 million or around 930 million Swedish kronor, in cash.

The completion of the deal is contingent on various factors. Closing and the positive cash flow impact would occur during the fourth quarter.

The company will record the approximate gain from the deal of $65.8 million or around 740 kronor as a non-recurring item, positively impacting the operating income in business area North America.

Electrolux stopped production in its Memphis site on June 30, and the operations have been transferred to the new facility in Springfield, Tennessee.

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