Brief: Electrolux, Midea Form Long-Term Strategic Partnership In North America

Electrolux AB

23/04/2026 16:44

April 23 (Reuters) - Electrolux AB ELUXb.ST:

ELECTROLUX GROUP AND MIDEA GROUP FORM A HIGHLY COMPLEMENTARY LONG-TERM STRATEGIC PARTNERSHIP IN NORTH AMERICA TO ACCELERATE PROFITABLE GROWTH AND STRENGTHEN INNOVATION

PARTNERSHIP EXPECTED TO AFFECT 1,500 EMPLOYEES IN 2026 WITH SEK 0.9 BILLION NEGATIVE CASH NRI

PARTNERSHIP EXPECTED TO CONTRIBUTE SEK 0.6 BILLION IN COST EFFICIENCY IMPROVEMENTS IN YEAR THREE

GROUP EXPECTS THAT PARTNERSHIP WILL HAVE A POSITIVE EFFECT ON ELECTROLUX GROUP'S SALES

PARTNERSHIP STRUCTURED AS THREE JOINT VENTURES INCLUDING SALES JV FOR FOOD PRESERVATION

GROUP EXPECTS TO REPORT TOTAL NEGATIVE NON-RECURRING ITEMS ("NRIS") OF APPROXIMATELY SEK 2.4 BILLION

TO HOLD 55% AND MIDEA 45% IN ANDERSON MANUFACTURING JV

MIDEA GROUP TO PURCHASE 65% OF FOOD PRESERVATION ASSETS IN JUAREZ, ELECTROLUX RETAINS 35%

SALE OF JUAREZ ASSETS TO JV EXPECTED IN Q3 2026 WITH SEK 1.0 BILLION POSITIVE CASH FLOW

PARTNERSHIP WILL NOT IMPACT ELECTROLUX GROUP'S BUSINESS OUTLOOK FOR 2026

CFIUS APPROVES ELECTROLUX GROUP AND MIDEA GROUP DEALS

PARTNERSHIP EXPECTED TO REQUIRE SEK 1.1 BILLION IN CAPITAL EXPENDITURE OVER NEXT THREE YEARS

ELECTROLUX - EXPECTS TO REPORT TOTAL NEGATIVE NON-RECURRING ITEMS ("NRIS") OF APPROXIMATELY SEK 2.4 BILLION, IN Q2 OF 2026

ELECTROLUX GROUP AND MIDEA GROUP FORM A HIGHLY COMPLEMENTARY LONG-TERM STRATEGIC PARTNERSHIP IN NORTH AMERICA TO ACCELERATE PROFITABLE GROWTH AND STRENGTHEN INNOVATION

Source text: ID:nWkr7xG6T1

Further company coverage: [ELUXb.ST]

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