Electrolux to Close France Cooker Factory Nov 24, 2004

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Sweden-based appliance maker Electrolux announced that it is closing a cooker factory in Reims, France by the end of the first quarter of 2005. The decision comes after an initial investigation that was announced in July 2004.

The employee representatives have been consulted regarding the conditions for the closure in accordance with French labor laws.

The cooker factory in Reims has approximately 240 employees and produces cookers and built-in ovens. The closure of the factory will incur a total cost of approximately SEK 300 million (approx. U.S. $44.2 million), which will be taken as a charge against operating income in the fourth quarter of 2004.

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