Company:Electrolux

Electrolux AB

Type	Publicly traded Aktiebolag
Traded as	Nasdaq Stockholm: ELUX B
Industry	Home appliance
Founded	1919 (1919)
Headquarters	Stockholm, Sweden
Area served	Worldwide
Key people	Ronnie Leten (Chairman) Jonas Samuelson (President & CEO)
Products	Major appliances, Small appliances
Revenue	121.093 billion kr (2016)
Operating income	6.274 billion kr (2016)
Net income	4.570 billion kr (2016)
Total assets	85.848 billion kr (2016)
Total equity	17.738 billion kr (2016)
Owner	Investor AB (15.5%; 29.9% votes)
Number of employees	55,400 (2016)
Website	electrolux.com

Electrolux AB (commonly known as Electrolux, Swedish: [ɛ²lɛkːtrʊˌlɵks]) is a Swedish multinational home appliance manufacturer, headquartered in Stockholm. It is consistently ranked the world's second largest appliance maker by units sold after Whirlpool.

Electrolux products sell under a variety of brand names (including its own), and are primarily major appliances and vacuum cleaners intended for consumer use. The company also makes appliances for professional use. Electrolux has a primary listing on the Stockholm Stock Exchange and is a constituent of the OMX Stockholm 30 index.

History

The Autoluxlamp, a kerosene lamp manufactured by Lux and used in railway stations around the world in the early 20th century.

The company originates from a merger of two companies—Lux AB and Svenska Elektron AB, the former an established manufacturer and the latter a younger company founded by a former vacuum salesman who had also been an employee of the former firm. The origins of Electrolux are closely tied to the vacuum, but today it also makes major appliances.

Sales company to major manufacturer

In 1919, a Svenska Elektron AB acquisition, Elektromekaniska AB, became Elektrolux (the spelling was changed to Electrolux in 1957). It initially sold Lux branded vacuum cleaners in several European countries.

In 1923, the company acquired AB Arctic and subsequently added absorption refrigerators to its product line. Other appliances soon followed, including washing machines in 1951, dishwashers in 1959, and food service equipment in 1962.

Mergers and acquisitions

The company has often and regularly expanded through mergers and acquisitions.

While Electrolux had bought several companies before the 1960s, that decade saw the beginnings of a new wave of M&A activity. The company bought ElektroHelios, Norwegian Elektra, Danish Atlas, Finnish Slev, and Flymo, et al., in the nine years from 1960 to 1969. This style of growth continued through the 1990s, seeing Electrolux purchase scores of companies including, for a time, Husqvarna.

Hans Werthen

Hans Werthen, President and later Chairman of the Board, led the strategic core of an increasingly decentralized Electrolux—and was instrumental to its rapid growth.

Restructuring

While attempts to cut costs, centralise administration, and wring out economies of scale from Electrolux's operations were made in the 1960s and 1970s with the focus so firmly on growth, further company-wide restructuring efforts only began in the late 1990s.

A public company

Vacuum Cleaner designed by Lurelle Guild ca. 1937 Brooklyn Museum

Electrolux made an initial public offering on the London Stock Exchange in 1928 (it was delisted in 2010) and another on the Stockholm Stock Exchange in 1930.

Currently, its shares trade on the NASDAQ OMX Nordic Market and over-the-counter. Electrolux is an OMX Nordic 40 constituent stock.

2000 to present

In North America, the Electrolux name was long used by vacuum cleaner manufacturer Aerus LLC, originally established to sell Swedish Electrolux products. In 2000, Aerus transferred trademark rights back to the Electrolux Group, and ceased using the Electrolux name in 2004.

Conversely, Electrolux-made vacuums carried the Eureka brand name, which Electrolux continued to use while also selling Electrolux branded vacuums after 2000. Electrolux USA customer service maintains a database of Electrolux made vacuums and provides a link to Aerus's website for the convenience of owners of Electrolux branded Aerus vacuums.

Keith McLoughlin took over as President and CEO on January 1, 2011, and became the company's first non Swedish chief executive.

In August 2011, Electrolux acquired from Sigdo Koppers the Chilean appliance manufacturer CTI obtaining several brands with the purchase including: Fensa, Gafa, Mademsa and Somela. On February 6, 2017, Electrolux announced that it had agreed to acquire Anova Applied Electronics, Inc. (company), the U.S.-based provider of the Anova Precision Cooker.

Notable products

Electrolux Assistent, 1940.

• 1919: The Lux vacuum is the first product Electrolux sells.
• 1925: D, Electrolux's first refrigerator, is an absorption model.
• 1937: Electrolux model 30 vacuum is unveiled.
• 1940: Assistent (Swedish for assistant), the company's only wartime consumer product, is a mixer/food processor.
• 1951: W 20, Electrolux's first home washing machine, is manufactured in post World War II Gothenburg, Sweden.
• 1959: D 10, the company's first dishwasher, is a counter top model nicknamed "round jar".
• 2001: Launch of the Electrolux Trilobite, a robotic vacuum cleaner.

Brands

An Electrolux canister vacuum cleaner

Electrolux sells under a wide variety of brand names worldwide. Most of them were acquired through mergers and acquisitions and only do business in a single country or geographic area. The following is an incomplete list.

Europe

• AEG
• Atlas^[:da] (Denmark)
• Corberó (Spain)
• Dometic, appliances for RV's, also uses the Electrolux logo. Based in Sweden and owned by Dometic Group, itself owned by EQT Partners since 2011.
• Elektro Helios, manufacturer of consumer appliances for the Swedish market
• Faure, French consumer appliance maker
• Lehel, consumer appliance brand sold in Hungary and elsewhere
• Marynen/Marijnen, consumer product brand sold in the Netherlands
• Parkinson Cowan, cooking appliances (United Kingdom)
• Progress, vacuum cleaner brand sold throughout Europe
• REX-Electrolux, Italian appliance manufacturer
• Rosenlew, consumer product brand sold in Scandinavian countries
• Voss, premium consumer cooking appliance and equipment supplier in Denmark and elsewhere
• Zanker, consumer kitchen appliance brand sold in central Europe
• Zanussi, Italian appliance manufacturer that became part of Electrolux in 1984
• Zanussi Professional, professional kitchen equipment manufacturer
• Zoppas, consumer products brand sold in Italy

Australia and Oceania

• Dishlex brand sold in Australia
• Kelvinator, commercial refrigerator and freezer brand sold in Australia and elsewhere
• Simpson, consumer appliance brand sold in Australia
• Westinghouse, a kitchen appliance brand in Australia licensed from Westinghouse Electric Corp to Electrolux Home Products Pty Ltd.

North America

• Anova Applied Electronics, Inc., provider of the Anova Precision Cooker
• Electrolux ICON, premium consumer appliance brand sold in the United States of America
• Eureka, United States of America consumer vacuum cleaner brand, Sold to Midea, China in 2016
• Frigidaire, major appliance manufacturer.
• Gibson, refrigerator and air conditioning manufacturer
• Philco, former U.S. consumer electronics and appliance manufacturer for appliances, though brand name is also used separately for electronics by Philips
• Sanitaire, commercial product division of Eureka
• Tappan, former United States of America appliance manufacturer
• White-Westinghouse, former United States of America appliance manufacturer

Latin America

• Fensa, Chilean consumer appliance brand, widely available in Latin America.
• Gafa, Argentinean appliance manufacturer.
• Mademsa, Chilean home appliance brand
• Prosdócimo, refrigerator, fridge and air conditioning brand sold in Brazil
• Somela, Chilean home appliance brand, available throughout Latin America

Middle East

• King, Israeli kitchen appliance brand made by REX-Electrolux, an Italian Electrolux subsidiary.
• Olympic Group, home appliance brand in Egypt

Global/other

• Arthur Martin-Electrolux
• Beam, Electrolux's central vacuum brand
• Castor
• Chef
• Dito, professional food processing equipment
• Electrolux Laundry Systems
• Electrolux Professional
• Frigidaire, full range major appliance brand sold globally
• Juno-Electrolux, premium consumer kitchen appliance brand
• Molteni, professional stoves
• Tornado, vacuum cleaners and other consumer products
• Therma
• Tricity Bendix
• Volta, vacuum cleaner brand sold in Australia, Sweden and elsewhere
• Wascator, now under Electrolux Laundry Systems

Note: This list does not include brands such as Kenmore and John Lewis, which may sell Electrolux produced appliances but are not owned by or affiliated with Electrolux, as Electrolux acts as an OEM for these brands.

Slogan

The company's current international slogan is "Thinking of you". In the 1960s the company successfully marketed vacuums in the United Kingdom with the slogan "Nothing sucks like an Electrolux".

In the United States, it was frequently assumed that using this slogan was a brand blunder. In fact, the informal American meaning of the word sucks was already well known at the time in the United Kingdom, and the company hoped the slogan, with its possible double entendre, would gain attention. In Indonesia, the Electrolux previous slogans as "Kalau saja semua seawet Electrolux" (English: If Only All Durable as Electrolux).

Controversy

In September 2003, the US Equal Employment Opportunity Commission resolved a complaint that Muslim workers at the St. Cloud factory, Minnesota were not allowed a sufficient number of breaks to observe their daily prayers.

In August 2010, and again in 2011, complaints against the company were filed by Muslim workers in Electrolux's plant in St. Cloud with the Equal Employment Opportunity Commission. The complaint of 2010, that workers were not able to observe Ramadan, was resolved. The complaint of 2011 stems from the thirty minute breaks agreed to in 2010 being later reduced to twenty minutes by Electrolux.

See also

• Constructor Group AS, a former Electrolux subsidiary not involved in major appliance manufacture

External links

• Official group website
• American Electrolux - The Beginning, and the Early Years by Charles Richard Lester