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Electrolux products are sold under a variety of brand names (including its own), and are primarily major appliances and vacuum cleaners intended for home consumer use. [6] Electrolux has a primary listing on the Stockholm Stock Exchange and is a constituent of the OMX Stockholm 30 index.
On September 8, 2014, General Electric agreed to sell the company to Electrolux, a Swedish appliance manufacturer and the second-largest consumer appliance manufacturer after Whirlpool Corporation, for US$3.3 billion in cash. The deal carried a US$175 million termination fee clause if Electrolux was unable to complete the acquisition.
Kelvinator ad from 1920 Kelvinator refrigerator, c. 1926. The enterprise was established on September 18, 1914, in Detroit, Michigan, United States, by engineer Nathaniel B. Wales, who introduced his idea for a practical electric refrigeration unit for the home to Edmund Copeland and Arnold Goss.
The plant's research and development center includes the technology and machinery to simulate a stove's lifetime usage and performance expectations and can test more than 300 products at one time. [15] Electrolux/Frigidaire also operates a manufacturing facility for free standing gas and electric ranges in Springfield, Tennessee.
As of 2017, Kenmore products are produced by manufacturers including Whirlpool, Samsung, LG, Electrolux, Panasonic, Cleva North America, and Winia Electronics. [citation needed] Today, the brand's portfolio is sold across Amazon, Lowe's, [3] Target, and many other online retailers. [4]
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As a result of the breakup and dissolution of the original company, Electrolux acquired the brand rights in 2005 and the name is also licensed to various companies: [25] Currently the brand is being actively promoted by Electrolux; it includes many of the same products that it formerly manufactured, such as power solutions energy devices ...
In September 2014, Electrolux agreed to buy General Electric's household appliances business including the Hotpoint brand in North America for £2bn ($3.3bn). The deal was expected to close in 2015. [ 8 ]