Press Release Stockholm, September 8, 2014

Total Page:16

File Type:pdf, Size:1020Kb

Press Release Stockholm, September 8, 2014 Press release Stockholm, September 8, 2014 Invitation to investor and media presentation regarding Electrolux agreement to acquire GE Appliances AB Electrolux today announced it has entered into an agreement to acquire the appliances business of General Electric (“GE Appliances”). A telephone conference will be organized today to present the transaction rationale. Telephone conference The telephone conference will begin at 08.30 CET (02.30 ET). The conference will be chaired by Keith McLoughlin, President and CEO of Electrolux. Mr. McLoughlin will be accompanied by Tomas Eliasson, CFO. Details for the call are as follows: Participants in Sweden should call + 46 8 505 564 74 Participants in the UK/Europe should call +44 203 364 5374 Participants in the U.S. should call +1 855 753 2230 The call will be broadcasted live at http://www.electrolux.com/ir, where a slide presentation also will be available. Contacts for further information International and European media: Daniel Frykholm, Head of Group Media Relations, +46 73 885 71 59 North American media: Eloise Hale, Vice President Communications Electrolux North America, +1 980 236 2929 Investors and financial analysts: Catarina Ihre, Vice President Investor Relations, +46 70 607 92 63 Alternatively, please contact Electrolux Press Hotline, +46 8 657 65 07. Electrolux is a global leader in home appliances, based on deep consumer insight and developed in close collaboration with professional users. We offer thoughtfully designed, innovative solutions for households and businesses, with products such as refrigerators, dishwashers, washing machines, cookers, vacuum cleaners, air conditioners and small domestic appliances. Under esteemed brands including Electrolux, AEG, Zanussi, Frigidaire and Electrolux Grand Cuisine, the Group sells more than 50 million products to customers in more than 150 markets every year. In 2013 Electrolux had sales of SEK 109 billion and 61,000 employees. For more information go to http://group.electrolux.com. AB ELECTROLUX (PUBL) ADDRESS PRESS HOTLINE E-MAIL INTERNET REG. NO. St Göransgatan 143 +46 8 657 6507 [email protected] www.electrolux.com 556009-4178 SE-105 45 STOCKHOLM .
Recommended publications
  • 8J Electrolux
    Electrolux began Australian operations in 1925 cleaners, scrubbing and, in New Zealand the following year. and poli shing Manufacturing in Australia began in 1934, in a small machines, and carpet factory in West Melbourne. The company moved washers. to South Yarra two Electro l ux years later and Professional Food remained at that site Service appliances are for almost half a used extensively in century. leading hotel a nd 8J Electrolux The Electrolux restaurant kitchens Group's 2001 across the world, inclu­ acquisition of Email ding the well-known Major Appliances Tetsuya's restaurant in operations included Sydney. such favoured and trusted names as RECENT THE MARKET Westinghouse, DEVELOPMENTS BRAND VALUES No market more accurately reflects our changing Kelvinator and Electrolux is now focused on rationalising its stable The Electrolux brand name gives consumers needs than that for domestic appliances. Refrige­ Simpson, Hoove1~ of brands and establishing Electro lux as its premier confidence in the group's products and services in rators, vacuum cleaners and lawnmowers evolve Chef and Dishlex, brand in domestic appliances around the world. In a complex, crowded world. quickly to till the demands of discerning and critical further strengthe­ line with this is, consumer insights gained from "Electrolux wil l be a leader in world-class homemakers. ning the company's extensive research in key international markets will products that make everyday I ife more comfmtable, The whitegoods market alone is valued at more position as the world's favourite supplier of drive Electrolux product design and development. easier and safer," says the Electrolux Mission than $2.5 billion per year in Australia and continues powered domestic and garden appliances.
    [Show full text]
  • Remote Control Code List
    Remote Control Code List MDB1.3_01 Contents English . 3 Čeština . 4 Deutsch . 5 Suomi . 6 Italiano . 7. Nederlands . 8 Русский . .9 Slovenčina . 10 Svenska . 11 TV Code List . 12 DVD Code List . 25 VCR Code List . 31 Audio & AUX Code List . 36 2 English Remote Control Code List Using the Universal Remote Control 1. Select the mode(PVR, TV, DVD, AUDIO) you want to set by pressing the corresponding button on the remote control. The button will blink once. 2. Keep pressing the button for 3 seconds until the button lights on. 3. Enter the 3-digit code. Every time a number is entered, the button will blink. When the third digit is entered, the button will blink twice. 4. If a valid 3-digit code is entered, the product will power off. 5. Press the OK button and the mode button will blink three times. The setup is complete. 6. If the product does not power off, repeat the instruction from 3 to 5. Note: • When no code is entered for one minute the universal setting mode will switch to normal mode. • Try several setting codes and select the code that has the most functions. 3 Čeština Seznam ovládacích kódů dálkového ovladače Používání univerzálního dálkového ovladače 1. Vyberte režim (PVR, TV, DVD, AUDIO), který chcete nastavit, stisknutím odpovídajícího tlačítka na dálkovém ovladači. Tlačítko jednou blikne. 2. Stiskněte tlačítko na 3 sekundy, dokud se nerozsvítí. 3. Zadejte třímístný kód. Při každém zadání čísla tlačítko blikne. Po zadání třetího čísla tlačítko blikne dvakrát. 4. Po zadání platného třímístného kódu se přístroj vypne.
    [Show full text]
  • Especially Economical Household Appliances 2007/08 Consumer Information
    Saving on Electricity and Water is Worthwhile Especially Economical Household Appliances 2007/08 Consumer Information Refigerators and For washing machines, 20 liters more water each use freezers, wahsing causes additional costs of 234 € over 15 years. machines and dishwashers, as For refrigerators and freezers, 100 kWh more cause well as washer- additional electricity costs of 225 € over 15 years, plus dryers and driers, possible price increases. The most economical tabletop are purchases refrigerator with */*** compartment saves about 400 € over for many years 15 years, compared with the model with the highest power of service. Along consumption. A higher price of e.g. 200 € is therefore a with good per- very prifitable investment. formance, above This leaflet summarizes especially economical models of all they should the common designs and size classes. It should serve as be reliable and orientation for taking low power and water consumption have a long life. into account. The information is based on market data Furthermore they from August 2007. Should you read this brochure at a should be economical. Low power and water consumption much later time or not find the information you seek here, leads to lower operatoing costs and less environmental please look in the Internet under www.spargeraete.de. In loading this online database, you will find the entire up-to-date For many appliances, the operating costs over their life- German offering known to the authors of this brochure. time are higher than the purchase price. Especially eco- nomic appliances thus save more on power and waters costs over the years than the purchase price.
    [Show full text]
  • A Great Brand Gives You Thousands of Opportunities!
    A great brand gives you thousands of opportunities! www.electrolux.com/licensing If you have the PRODUCTS that people want, we have the BRANDS that people trust. Accelerate your business. • Make more money • Build on established brand equity • Expand into other product categories • Partner with one of the best worldwide companies You can accomplish all of the above. Through brand licensing we can help you maximize your business potential. What is brand licensing? The benefits A great product without a great brand leads The basic thought of brand licensing is to nowhere. But building a recognized brand use the strength from an established brand, takes a lot of time and investment. Working that already has consumer recognition together is the solution. You can be given and loyalty, instead of building an entirely the authority and opportunity to use a new brand from scratch that takes decades recognized name, already established and to create. well known. Brand licensing is a strategy to: Brand licensing is a contractual agreement • Grow in slow and/or fragmented markets permitting use of a brand with a defined • Capture new customer segments product, for a defined period of time, in • Recapture lost customers a defined territory. Through the licensing • Expand into new product categories process, the owner extends use of the and markets brand onto a variety of different products. • Capture new product price points and improve your margins Through licensing, we enable you to use one of our famous brands on your product. The result? You then select the manufacturer and A faster, more effective way to roll out a new control the process.
    [Show full text]
  • Study on the Competitiveness of the EU Gas Appliances Sector
    Ref. Ares(2015)2495017 - 15/06/2015 Study on the Competitiveness of the EU Gas Appliances Sector Within the Framework Contract of Sectoral Competitiveness Studies – ENTR/06/054 Final Report Client: Directorate-General Enterprise & Industry Rotterdam, 11 August 2009 Disclaimer: The views and propositions expressed herein are those of the experts and do not necessarily represent any official view of the European Commission or any other organisations mentioned in the Report ECORYS SCS Group P.O. Box 4175 3006 AD Rotterdam Watermanweg 44 3067 GG Rotterdam The Netherlands T +31 (0)10 453 88 16 F +31 (0)10 453 07 68 E [email protected] W www.ecorys.com Registration no. 24316726 ECORYS Macro & Sector Policies T +31 (0)31 (0)10 453 87 53 F +31 (0)10 452 36 60 Table of contents 1 Introduction 1 2 Objectives and policy rationale 5 3 Main findings and conclusions 7 4 The gas appliances sector 11 4.1 Introduction 11 4.2 Definition 11 4.3 Overview of sub-sectors 16 4.3.1 Heating, ventilation and air conditioning (HVAC) 16 4.3.2 Domestic appliances 18 4.3.3 Fittings 20 4.4 The application of statistics 22 4.5 Statistical approach to sector and subsectors 23 5 Key characteristics of the European gas appliances sector 29 5.1 Introduction 29 5.2 Importance of the sector 30 5.2.1 Output 30 5.2.2 Employment 31 5.2.3 Demand 32 5.3 Production, employment, demand and trade within EU 33 5.3.1 Production share EU-27 output per country 33 5.3.2 Employment 39 5.3.3 Demand by Member State 41 5.3.4 Intra EU trade in GA 41 5.4 Industry structure and size distribution
    [Show full text]
  • Fisher & Paykel Appliances Holdings Limited
    FISHER & PAYKEL APPLIANCES HOLDINGS LIMITED TARGET COMPANY STATEMENT — IN RELATION TO A TAKEOVER OFFER BY HAIER NEW ZEALAND INVESTMENT HOLDING COMPANY LIMITED — 4 OCTOBER 2012 For personal use only For personal use only COVER: PHASE 7 DISHDRAWER TM DISHWASHER FISHER & PAYKEL APPLIANCES HOLDINGS LIMITED TARGET COMPANY STATEMENT CHAIRMAN’S LETTER 03 TARGET COMPANY STATEMENT (TAKEOVERS CODE DISCLOSURES) 07 SCHEDULE 1 — 4 25 For personal use only APPENDIX: INDEPENDENT ADVISER’S REPORT 37 CHAIRMAN’S LETTER For personal use only CHAIRMAN’S LETTER P3 Dear Shareholder Haier New Zealand Investment Holding Company Limited (“Haier”) has offered $1.20 per share to buy your shares in Fisher & Paykel Appliances Holdings Limited (“FPA”) by means of a formal takeover offer (the Offer“ ”). •• INDEPENDENT DIRECTORS RECOMMEND DO NOT ACCEPT HAIER’S OFFER •• The independent directors of FPA (Dr Keith Turner, Mr Philip Lough, Ms Lynley Marshall and Mr Bill Roest) (the “Independent Directors”) unanimously recommend that shareholders do not accept the Offer from Haier. In making their recommendation, the Independent Directors have carefully considered a full range of expert advice available to them. Therefore you should take no action. The principal reasons for recommending that shareholders do not accept are: _ Having regard to a full range of expert advice now available to the Independent Directors (including the Independent Adviser’s valuation range of $1.28 to $1.57 per FPA Share), the Independent Directors consider that the Offer of $1.20 per FPA Share does not adequately reflect their view of the value of FPA based on their confidence in the strategic direction of the Company; and _ FPA is in a strong financial position and, as the Independent Adviser notes, FPA is at a “relatively early stage of implementation of the company’s comprehensive rebuilding strategy”.
    [Show full text]
  • Haier Electronics Group Co
    Asia Pacific Equity Research 01 February 2016 Overweight Haier Electronics Group Co 1169.HK, 1169 HK Further Thoughts on Qingdao Haier/GE deal, Earnings Price: HK$13.72 ▼ Price Target: HK$18.00 Revisions, FY15 Result Preview Previous: HK$20.00 Qingdao Haier announced further details of its GE Appliances China acquisition. Key takeaways: 1) in the US, GE Appliances will continue Consumer to manage/enhance its brand position; Haier could leverage its existing Shen Li, CFA AC product portfolio to add differentiated offerings to GE's US product (852) 2800 8523 lines. 2) In the Chinese market, GE can leverage the strong distribution [email protected] channel and local expertise of Qingdao Haier to launch localised Bloomberg JPMA SHLI <GO> products. 3) Qingdao Haier currently sells through the retail channel in Ebru Sener Kurumlu (852) 2800-8521 the US, while GE has established channels across both retail and [email protected] contract channels. The Haier brand can leverage GE's existing George Hsu relationships through the US retail channel. GE also has long-term (852) 2800-8559 relationships with home owners, property developers, property [email protected] management agencies and hotel operators. The Haier brand can also Dylan Chu leverage off GE's strong position in these channels. 4) For first 20 years, (852) 2800-8537 Qingdao Haier has the global right to use GE brands and pay 0% royalty [email protected] J.P. Morgan Securities (Asia Pacific) Limited fees on both exclusive (food preparation, food preservation, household cleaning, household comfort appliances) and non-exclusive products Price Performance (water purifier products).
    [Show full text]
  • AMBA 660 Case Study Haier's North America
    AMBA 660 Case Study Haier’s North America Expansion Mohamed Ezz, MD, DM (UMUC) Collegiate Professor, Business and Management Department University of Maryland University College Haier Group www.haier.com Reuters: “Haier Group said it would buy General Electric Co.'s appliance business for $5.4 billion, the Chinese company's latest attempt to boost its presence in the lucrative United States market. Haier, which made an abortive attempt in 2008 to buy the business, has a negligible presence in the U.S. white goods market, dominated by Whirlpool Corp, Sweden's Electrolux AB and GE. The news comes weeks after GE walked away from a deal to sell the business to Electrolux for $3.3 billion, following months of opposition from U.S. antitrust regulators. The deal with Haier is unlikely to draw intense antitrust scrutiny, according to some antitrust experts, but may get a hard look from the Committee on Foreign Investment in the United States (CFIUS)” (Ajmera, 2016, para 1-4) Chinese Companies Going Global China is rising as a globally influential economic and political power. China has achieved an average growth rate of almost 10% over the past 20 years, making it one of the world’s largest economies and trading powers. This rapid economic development has enhanced China’s international competitiveness. Chinese blue chip companies have realized the limitations of their local market, and worked on becoming global players. Many of these companies have quietly started their own international expansion; examples include Haier, HiSense, ad Gree. And while the Chinese government encourages the global expansion of Chinese companies, it has not yet developed policies and frameworks to govern such expansion.
    [Show full text]
  • How to ~Et the Best From
    -o How to ~et the best from Contents Agitator 9 Appliance Registration 2 Use and Care Bleach Dispenser 8 of Model Care and Cleaning 26 Consumer Services 27 ~W3700R Controls Setting Guide 10, 11 Cycle Settings 6,7 Detergents, Other Additives 15–19 Energy-Saving Tips 12 Fabric Softener Dispenser 8 9 Handwash@ System 9 Hard Water 18 Limestone Deposits 16 Loading the Washer 5, 14 Model and Serial Numbers 2 Operating the Washer 5-9 Pretreating 11, 13, 19 Problem Solver 22-26 Safety Instructions 3,4 Sorting Clothes 5, 13 Stains 20 Stain Removal Guide 21 Storage and Vacation Tips 26 User Maintenance Instructions 26 Warranty Back Cover GE Answer Center” 800.626.2000 ~LP US ~LP YOU... Read this book carefully. Save time and money. Write down the model It is intended to help you Before you request service . and serial numbers. operate and maintain your check the Problem Solver You’ll find them on a label on new washer properly. section. It lists causes of minor the lower left side near the front. operating problems that you can Keep it handy for answers to These numbers are also on the correct yourself. your questions. Consumer Product Ownership If you don’t understand something Registration Card that came with or need more help, write (include If you received a your washer. Before sending in this card, please write these .your .phone number) damaged— washer... ,. num~ers nere: Consumer Affairs Immediately contact the dealer (or Hotpoint builder) that sold you the washer. Appliance Park Model Number Louisville, KY 40225 Serial Number Use these numbers in any correspondence or service calls concerning your washer.
    [Show full text]
  • Competitive Implications of Environmental Regulation
    Competitive Implications of Environmental Regulation A Study of Six lndustries The Management Institute for Environment and Business 1101 17th Street, NW, Suite 502 Washington, DC 20036 (202) 833-6556 with the U.S. Environmental Protection Agency Printed on processed chlorine free recycled paper: This paper is manufactured without the use of chlorine or chlorine derivatives. It contains 20% post-consumer waste. CONTENTS Competitive Implications of Environmental Regulations Executive Summary ............................................ .i The Pulp and Paper Industry ...................................... .7 The Computer and Electronic Component Industry ....................... 119 The Paint and Coatings Industry ................................... 189 The Refrigerator Industry ....................................... 251 The Dry Cell Battery Industry .................................... 317 The Printing Ink Industry. ....................................... 357 DISCLAIMER Although prepared with EPA funding, this report has neither been reviewed nor approved by the U.S. Environmental Protection Agency for publication as an EPA report. The contents do not necessarily reflect the views or policies of the U.S. Environmental Protection Agency. nor does mention of trade names or commercial products constitute endorsement or recommendation for use. Executive Summary EXECUTIVE SUMMARY Competitive Implications of Environmental Regulation The following industry studies were conducted in 1993 and 1994 to examine the role that environmental regulations play in determining competitive advantage. The six industries -- paint and coatings, pulp and paper, computers and electronic components, refrigerators, batteries, and printing inks -- have three common characteristics. They are global industries, they face significant environmental challenges, and the U.S. is a leading producer. In aggregate, these industries comprise world sales of $160 billion per year. This project was a collaboration between the Management Institute for Environment and Business, Hochschule St.
    [Show full text]
  • Besonders Sparsame Haushaltsgeräte 2006/07 Eine Verbraucherinformation
    Besonders sparsame Haushaltsgeräte 2006/07 Eine Verbraucherinformation Kühl- und Gefrier- Bei Waschmaschinen verursacht ein um 20 Liter höherer geräte, Wasch- Wasserverbrauch in 15 Jahren 234 € an Mehrkosten. Bei u n d S p ü l m a - Kühl- und Gefriergeräten kosten 100 kWh jährlicher Mehr- schinen sowie verbrauch in 15 Jahren 225 € zusätzliche Stromkosten Waschtrockner zzgl. evtl. Preissteigerungen. Der sparsamste Tischkühl- und Wäschetrock- schrank mit */*** Sterne-Fach spart z.B. gegenüber dem ner sind Anschaf- am meisten Strom verbrauchenden Modell in 15 Jahren fungen für viele insgesamt rund 400 € an Stromkosten. Ein Mehrpreis Jahre. Neben gu- beim Kauf von z.B. 200 € ist insofern eine sehr rentable ter Leistung sol- Investition. len sie vor allem In diesem Faltblatt sind besonders sparsame Modelle zuverlässig sein üblicher Bauarten und Größenklassen zusammengestellt. und eine lange Le- Es soll als Orientierung dienen, wenn man auf niedrigen bensdauer haben. Strom- und Wasserverbrauch achten will. Seine Angaben Außerdem sollen basieren auf Marktdaten von August 2006. Falls Sie diese sie sparsam sein. Ein niedriger Strom- oder Wasserver- Broschüre erst wesentlich später lesen oder wenn Sie die brauch verursacht weniger Betriebskosten und entlastet von Ihnen gewünschten Informationen hier nicht finden, die Umwelt. Bei vielen Geräten sind die Betriebskosten schauen Sie im Internet auf www.spargeraete.de. In die- in ihrer Lebensdauer deutlich höher als ihr Kaufpreis. ser Online-Datenbank finden Sie das gesamte deutsche Besonders sparsame Geräte sparen deshalb im Laufe Lieferangebot auf dem jeweils aktuellsten Stand, der den der Jahre wesentlich mehr an Strom- und Wasserkosten Verfassern dieser Broschüre bekannt ist. ein, als sie bei der Anschaffung teurer sind.
    [Show full text]
  • 2012 Harris Poll Equitrend® Brand List Sorted by Category
    2012 Harris Poll EquiTrend® Brand List Sorted by Category © 2012 Harris Interactive Inc. All rights reserved. The content contained in this report is the intellectual property of Harris Interactive. Any copying, republication or redistribution of such content is expressly prohibited without the prior written consent of Harris Interactive. * indicates brand has sample size of less than N=100 and it is not included in industry rankings Harris Secondary Category Harris Tertiary Category Brand Airlines Airline-Full Service Air Canada Airlines Airline-Full Service Alaska/ Horizon Airlines Airlines Airline-Full Service American Airlines Airlines Airline-Full Service Continental Airlines Airlines Airline-Full Service Delta Air Lines Airlines Airline-Full Service Hawaiian Airlines Airlines Airline-Full Service United Airlines Airlines Airline-Full Service US Airways Airlines Airline-Value AirTran Airlines Airline-Value Frontier / Midwest Airlines Airlines Airline-Value JetBlue Airways Airlines Airline-Value Southwest Airlines Airlines Airline-Value Spirit Airlines Airlines Airline-Value WestJet Airlines* Apparel/Accessories Footwear-Running Shoes Asics Running Shoes Apparel/Accessories Footwear-Running Shoes Brooks Running Shoes Apparel/Accessories Footwear-Running Shoes Merrell Running Shoes Apparel/Accessories Footwear-Running Shoes New Balance Running Shoes Apparel/Accessories Footwear-Running Shoes Nike Running Shoes Apparel/Accessories Footwear-Running Shoes Reebok Running Shoes Apparel/Accessories Footwear-Running Shoes Saucony Running Shoes
    [Show full text]