Daily Journal masthead

Appliance maker Electrolux post Q2 profit, vows to continue effort to buy GE business


COPENHAGEN, Denmark — Swedish home appliance maker Electrolux returned to profit in the second quarter of the year on a combination of strong demand in western Europe and cost savings.

The Stockholm-based company posted a net profit of 608 million kronor ($71.3 million), against a loss of 92 million kronor a year ago.

Electrolux, which is ranked as the world's second-largest appliance maker after U.S rival Whirlpool, said sales soared 19.1 percent to 31.4 billion kronor ($3.7 billion).

Electrolux, which sells appliances under the Electrolux, AEG, Zanussi and Frigidaire brands, announced last year it was buying the appliance business of General Electric for $3.3 billion. However, the U.S. Justice Department opposes the acquisition, saying will harm competition.

CEO Keith McLaughlin on Friday vowed Electrolux "will vigorously contest this effort."

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.