Swedish appliance maker AB Electrolux announced on Thursday that it will invest SEK 600m (U.S. $72.8 million) on the construction of a new refrigerator plant in Nyíregyháza, Hungary.
The plant will specialize in combi-bottom fridge-freezers with an anticipated annual capacity of approximately 560,000 units. The plant, which is scheduled for completion in the first half of 2005, will employ about 600 people.
The company also announced an investment of approximately SEK 80m ($9.7 million) in a new washing machine plant in St. Petersburg, Russia. The facility will have an initial annual capacity of 150,000 units.
Provided that necessary agreements can be reached regarding customs duties and taxes, the Russia plant is scheduled for completion in 2004, Electrolux said.
to Daily News