Electrolux

History

The history of Electrolux can be traced back to the establishment of AB Lux, Stockholm, in 1901. In 1910, Elektromekaniska was established in Stockholm. In 1912, the collaboration between Lux and Axel Wenner-Gren began. Axel Wenner-Gren formed the sales company Svenska Elektron in 1915. On October 30, 1917, Elektron (In which Axel Wenner.Gren owned a large interest) purchased all the shares of Elektromekaniska. An agreement was reached between AB Lux and Svenska Elektron AB (in which Wenner-Gren was the dominating owner) giving Elektron the sole sales rights to AB Lux vacuum cleaners on August 1, 1919. Elektromekaniska AB (wholly owned by Wenner-Gren-dominated Elektron) changed its name to AB Electrolux at the Annual General Meeting on August 29, 1919. Thus, Electrolux was formed in 1919. The new name was framed as a combination of Elektromekaniska and Lux. The group grew through innovations and acquisitions. At present, Electrolux is a global leader in home appliances and appliances for professional use.

Mission

The mission of Electrolux is to be the world leader in profitably marketing innovative product and service solutions to real problems, thereby making the personal and professional lives of their customers easier and more enjoyable.

Area of Operation

The businesses of Electrolux are:
Consumer Products:

• Food preservation and storage (Refrigerators)
• Dish care (Dishwashers)
• Fabric Care (Washing Machines, Tumble Dryers)
• Home cleaning (Vacuum Cleaners)
• Food Preparation (Cookers, Ovens)

Professional solutions:

• Commercial Laundry Systems
• Professional Food Service Equipment

Key Statistics

• Electrolux holds assets of $10.38 billion.
• Electrolux has made profits of $0.22 billion in 2006.
• Electrolux operates in 150 countries around the world.
• Electrolux has 74,098 employees.

Organization

The organization chart of Electrolux is presented as follows:

• President and CEO
• Chief Financial Officer
• Legal Affairs
• Communications and Branding
• Human Resources and Organizational Development
• Major Appliances Europe
• Major Appliances Asia Pacific
• Major Appliances North & Latin America
• Floorcare & Small Appliances
• Professional Indoor Products

In addition, the Group is led by the Board of Directors and the Group Management Team.

International Ranking

• Electrolux ranks 798 in the world according to Forbes Magazine list.
• Electrolux ranks 371 in Fortune Global 500 list.

Recent Acquisition

In 2000, the Electrolux Group reached an agreement for acquisition of Email Ltd., Australia's largest appliance company.

Headquarter Address

St Göransgatan 143
S-105 45 Stockholm
Sweden
Phone: 46-8-738-6000