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© Electrolux
Electronics Production |

Electrolux Group divests factory in Hungary

Electrolux Group has divested its manufacturing facility in Nyíregyháza, Hungary to Swedish heat pump manufacturer Qvantum for a cash consideration of EUR 38 million (approximately SEK 455 million).

The company says that an approximate gain of EUR 25 million (approximately SEK 300 million) will be recorded as a non-recurring item, positively impacting the operating income in "business area Europe" during the third quarter of 2023.

The divestment is part of Electrolux Group's actions to divest non-core assets with a total potential value of SEK 10 billion. The company first announced its decision to discontinue production ​in Nyíregyháza in early 2023 and has since explored various possibilities to divest the premises to external parties.

The buyer Qvantum is a Swedish manufacturer of high-quality electric heat pumps. ​Among several interested parties, Qvantum was deemed the most suitable buyer, considering various factors, including plans to quickly ramp up a new manufacturing business ​at the site.​ Qvantum has expressed its interest in offering certain positions to the Electrolux Group employees ​at the factory.


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June 13 2024 1:49 pm V22.4.55-1