Electrolux Plans To Discontinue Production At Nyiregyhaza Factory In Hungary

Electrolux AB (0MDT.L,0GQ1.L,ELUXY.PK), a Swedish home appliance maker, said Wednesday that it has decided to discontinue production at the Nyiregyhaza factory in Hungary from the beginning of 2024. The company will take a restructuring charge of about SEK 550 million in the first quarter of 2023.

Nyíregyháza factory employs around 650 people and manufactures refrigeration products.

Electrolux is exploring possibilities to divest the factory in Nyíregyháza and is committed to collaborating with relevant authorities and stakeholders to support its employees in the best possible way during this phase.

The cash flow impact is estimated to be about SEK 300 million, mainly in 2024-2025.

Electrolux will publish its results for the fourth quarter tomorrow February 2, 2023, at 08.00 CET.

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