(Il Sole 24 Ore Radiocor) - Milano, 24 apr - Electrolux said that it has entered a long-term strategic partnership in North America with the Chinese group Midea.

The partnership is expected to commence in the third quarter of 2026.

The parties are establishing a highly complementary long-term strategic partnership in Food Preservation (refrigeration) manufacturing and sales, and Fabric Care (laundry) manufacturing in North America. "The partnership is designed to support long-term profitable growth and will contribute to Electrolux Group's overarching efforts to transform the business in North America," Electrolux said.

Electrolux expects that the partnership will have a positive effect on its sales and contribute to gradually increasing cost efficiency improvements over the next three years, with approximately 0.6 billion crowns in year three.

Electrolux expects to report total negative non-recurring items (NRIs) of approximately 2.4 billion crowns in the second quarter of 2026, of which approximately 0.9 billion will have a cash impact.

Electrolux and Midea will jointly co-develop and sell food preservation products for North America through a sales joint venture, in which each company will hold 50% of the shares.

The agreement has an initial term of 15 years that is automatically extended with consecutive 10-year periods.

The partnership is expected to affect approximately 1,500 employees in 2026, resulting in a negative cash NRI of approximately 0.9 billion crowns, Electrolux said.

The partnership is expected to require approximately 1.1 billion crows in capital expenditure over the next three years related to the start-up of the fabric care production in the Anderson site and investing in new platforms for.

refrigeration in Juarez.

(RADIOCOR) 24-04-26 09:02:38 (0185) 5 NNNN