Electrolux Facility Delays Result in $70 Million in Losses

In summary:

  • Earlier this week, Electrolux revealed a $70 million loss in its 4th quarter earnings.
  • The appliance maker is blaming much of the loss on “capacity constraints” resulting from its move into its new plant.
  • The refrigerator and freezer plant in Anderson, South Carolina was burdened by a slower-than-anticipated startup.
  • The $250 million investment in Anderson’s new facility construction began in 2017.
  • The company will now be forced to run both the old and new Anderson facilities in parallel as they work to catch up.
  • The announcement caused the company’s shares to dip 12%.
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