Historical past
The Autoluxlamp, a kerosene lamp manufactured by Lux and utilized in railway stations world wide within the early 20th century.
The corporate originates from a merger of two corporations?Lux AB and Svenska Elektron AB. The previous a longtime producer and the latter a youthful firm based by a former vacuum salesman who was additionally a former worker of the previous agency. The origins of Electrolux are carefully tied to the vacuum, however at the moment it additionally makes main home equipment.
Gross sales firm to main producer
In 1919 a Svenska Elektron AB acquisition, Elektromekaniska AB, grew to become Elektrolux (the spelling was modified to Electrolux in 1957.) It initially offered Lux-branded vacuum cleaners in a number of European international locations.
In 1923, the corporate acquired AB Arctic and subsequently added absorption refrigerators to its product line. Different home equipment quickly adopted, together with washing machines in 1951, dishwashers in 1959, and meals service gear in 1962.
Mergers and acquisitions
The corporate has typically and repeatedly expanded by way of mergers and acquisitions.
Whereas Electrolux had purchased a number of corporations earlier than the 1960s, that decade noticed the beginnings of a brand new wave of M&A exercise. The corporate purchased ElektroHelios, Norwegian Elektra, Danish Atlas, Finnish Slev, and Flymo, et al., within the 9 years from 1960 to 1969. This model of progress continued by way of the 1990s, seeing Electrolux buy scores of corporations together with, for a time, Husqvarna.
Hans Werthen
Hans Werthen, President and later Chairman of the Board, led the strategic core of an more and more decentralized Electrolux?and was instrumental to its fast progress.
Restructuring
Whereas makes an attempt to chop prices, centralise administration, and wring out economies of scale from Electrolux's operations had been made within the 1960s and 1970s with the main target so firmly on progress, additional company-wide restructuring efforts solely started within the late 1990s.
A public firm
Electrolux made an initial public offering on the London Stock Exchange in 1928 (it was delisted in 2010) and one other on the Stockholm Stock Exchange in 1930.
Presently, its shares commerce on the NASDAQ OMX Nordic Market and over-the-counter. Electrolux is an OMX Nordic 40 constituent inventory.
2000 to current
In North America, the Electrolux title was long-used by a vacuum cleaner producer, Aerus LLC, initially established to promote Swedish Electrolux merchandise. In 2000, Aerus transferred trademark rights again to the Electrolux Group. Aerus stopped utilizing the Electrolux model in 2004. Earlier than 2000 Electrolux-made vacuums carried the Eureka brand name, and whereas Electrolux continued to make Eureka-branded vacuums after it regained the correct to make use of its personal model, it additionally started promoting Electrolux-branded vacuums, too. Electrolux USA customer support maintains a database of Electrolux-made vacuums and gives a hyperlink to Aerus in case an Electrolux-branded vacuum cleaner was made by Aerus.
Keith McLoughlin took over as President and CEO on January 1, 2011, and have become the corporate's first non-Swedish chief govt.
In August 2011, Electrolux acquired from Sigdo Koppers the Chilean equipment producer CTI acquiring a number of manufacturers with the acquisition together with: Fensa, Gafa, Mademsa and Somela.
