Electrolux Halts Production in Egypt on Increasing Unrest

Home appliances maker Electrolux said on Thursday it had halted all production in Egypt, where it has around 7,000 employees, due to increasing unrest in the country.

“(Electrolux) chose to discontinue production yesterday afternoon through today,” said Daniel Frykholm, spokesman at the Swedish group.

“In light of the unrest we have been reducing activities on a day to day basis. We evaluate the security situation and then decide whether people should go to work.”

He said the group would next review the decision to halt production on Saturday.

Electrolux’s turnover in Egypt amounted to more than 2 billion crowns ($308 million) last year, out of total sales of about 110 billion.

Source: Reuters