Electrolux to close hot water business
The recent successful acquisitions of the established Vintec and BeefEater Barbecues businesses has prompted the Electrolux decision to close down its three-year-old hot water operation.
Announcing this today, Mike Putt, Managing Director – Australia and New Zealand, said the addition of the new businesses meant there was simply “no room” for the hot water operations whose employees would be retained to work elsewhere within Electrolux.
“Electrolux is focussed on profitable growth,” Mr Putt said. “And Vintec, and BeefEater Barbecues which we bought two years ago, are very successful established businesses with the potential to continue to deliver that growth.
Mr Putt added that Electrolux would continue to look for further opportunities to acquire enterprises which were synergistic with the company’s core major and small household appliances business with the potential for profitable growth.