Electrolux Facility Delays Result in $70 Million in Losses

In summary:

• Earlier this week, Electrolux revealed a $70 million loss in its 4^th 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%.